What Is the Feudal Economic System? (2022)

which countries use the feudal economic system today?

Feudalism or the feudal economic system is a medieval economic system that existed before the 1500’s, this economic system is back in many countries today in 2021. Feudalism is an economic system based purely on the ownership of land, the people who own the land who are called lords or nobles, don’t have to work and produce anything. They simply lend or rent the land to lower socio economic class people called serfs or peasants who in fact produce everything the society needs.