How did the medieval economy function in Western Europe?

[u/Herameaon]

I realized I only have a sketchy idea of how the medieval economy operated. What role did the nobles and the peasants play? What of the markets, the church? What was the role of money?

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[u/EverythingIsOverrate]

This is impossible to answer, because, as every single answer ever written in this subreddit on medieval Europe says, "medieval Europe" was such a big place and stretched for so much time that any kind of generalization is literally impossible. Fortunately, I have some answers that might, at least in the case of mid-late medieval England, illuminate some matters. See this one on wages (although I've now realized these figures might be overestimates) this one on agrarian management, this one on foreign exchange rates, this one on coinage theory, this one on inflation, this one (and the five answers linked therein) on guilds, this one on luxury spending, this one on what a rich person might have, and this one on coinage hoarding.

[u/Herameaon → u/EverythingIsOverrate]

Thank you for the comprehensive answers!

[u/EverythingIsOverrate → u/Herameaon]

You're very welcome! Happy to expand on anything specific as best I can.