Feudalism is a type of political-economic system that was prevalent throughout the medieval period. In the feudal system the lords or land owners would provide protection to the peasants in exchange for labour services such as farming. The lords would also impose taxes. It was a tiered class system with the monarch at the top and the peasants at the bottom.

The King was at the top of the feudal system. He owned all of the land and had the power to choose who he would lease it too. The men that leased the land from the King were called Barons or Lords of the Manor and had control of the land that they leased from the King. They could create their own justice system, money and set their own taxes. The Barons would then divide their land among the Knights, while keeping some for themselves. The Knights received the land from the Barons in return for their military service. The Knights would then distribute their land among the villeins, peasants or serfs. They would provide free labour, food and services to the Knights in exchange for protection and land to live on.

The feudal system began to deteriorate at time surrounding the Black Death (1347- 1351). During this time there was a labour shortage, due to the fact that many of the peasants died. This broke down the social and economic systems. The lords had to raise their wages in order to obtain peasants to work for them. The price of land also plummeted making it available to the lower social classes. All of this combined gave the peasants and serfs more power.

My Question
Are there still any forms of feudalism present in our modern day society?

Interesting web-site that calls Canada a "feudal system" that is merely distinguished as democracy.

Article on modern "Feudal Lords" in Pakistan.

Other Sources
Provides a brief explanation of feudalism along with a short quiz to test your understanding.

Gives a more in depth overview of the feudal system.

Shows the transition of one country.

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Youtube Video