Non historian answer here.

Probably unlikely in the economic question, though social change was often understood if not accepted. And when I say social change I'm talking about wealthy male landowners who have titles gaining more powers and rights.

Magna Carta in the England 1215 was designed by the Barons to stop the king from being able to arrest them without cause and such. It pretty much also accidentally gave this right to all people in England.

The economic question though, look at Spain (16th century, I know it's after your question) They were the world super power. The armada they sent against Elizabeth I was during the peak of their military power. So what went wrong? Economic collapse, they had brought so much gold back from the new world it had become a part of keeping their economy afloat (think Venezuela and oil today) they became massively in debt when they couldn't maintain supply and hyper-inflated their currency.

Social change is slow but far more measured. The Parliament of England was established in legislature in 1066 to help the king with advice etc...it would slowly evolve due to social and political change to what it is today.