Definitions

knighthood

knighthood

[nahyt-hood]
knighthood: see chivalry; courtly love; knight.
French chevalier German Ritter

In the European Middle Ages, a formally professed cavalryman, generally a vassal holding land as a fief from the lord he served (see feudalism). At about 7 a boy bound for knighthood became a page, then at 12 a damoiseau (“lordling”), varlet, or valet, and subsequently a shieldbearer or esquire. When judged ready, he was dubbed knight by his lord in a solemn ceremony. The Christian ideal of knightly behavior (see chivalry) required devotion to the church, loyalty to military and feudal superiors, and preservation of personal honor. By the 16th century knighthood had become honorific rather than feudal or military.

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(born Nov. 7, 1885, White Oak township, McLean county, Ill., U.S.—died April 15, 1972, Chicago, Ill.) U.S. economist. He received his Ph.D. from Cornell University in 1916. He taught at the University of Chicago from 1927 to 1952; Milton Friedman was one of the many students he influenced. His book Risk, Uncertainty and Profit (1921) distinguished between insurable and uninsurable risks and asserted that profit was the reward entrepreneurs earned for bearing uninsurable risk. His monograph “Economic Organization” is a classic exposition of microeconomic theory. He is considered the founder of the Chicago school of economics.

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(born Nov. 7, 1885, White Oak township, McLean county, Ill., U.S.—died April 15, 1972, Chicago, Ill.) U.S. economist. He received his Ph.D. from Cornell University in 1916. He taught at the University of Chicago from 1927 to 1952; Milton Friedman was one of the many students he influenced. His book Risk, Uncertainty and Profit (1921) distinguished between insurable and uninsurable risks and asserted that profit was the reward entrepreneurs earned for bearing uninsurable risk. His monograph “Economic Organization” is a classic exposition of microeconomic theory. He is considered the founder of the Chicago school of economics.

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