Offering a revisionist theory that shifts the focus from labour services required by the lord to capital required by the customary tenant, Raftis reveals that "peasant economic development" and "manorial economy" are not mutually exclusive terms. Using account rolls, charters, court rolls, and lay subsidy rolls he demonstrates that lords subordinated their power to tax and to extract labour services to a policy of capital maintenance. This breakthrough allows him to develop a more rational explanation for the growth of markets and wealth in a countryside not exclusively dependent on the economy of lords. Peasant Economic Development within the English Manorial System is a ground-breaking analysis that redefines the social and economic history of rural medieval England and changes the direction of medieval scholarship.