§Transformation of servile obligations into property rights.
§Competition for peasant labor leads to attractive rental contracts.
§Rents fixed
— renegotiated on death of peasant.
§Eventually,
life leases become hereditary by custom.
§Inflation
reduces value of “quit rent” to nominal sum.
§Hereditary
leases become rights in fee simple.
§Soil tilled
by free tenants and wage workers.
§Trading
rights for revenue.
