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. This is the basic premise of the feudal economic system.
Above the lords/nobles are the monarchs who sit at the top of this economic system and take a cut from the entire economic system. Their job is to control where the wealth of a nation goes and who gets it, and also to order the knights to use force against people who disagree with the system.
This is usually a very corrupt system that allows people at the top to effectively steal money from the people at the bottom and redistribute it to their friends.
The knights are the medieval version of our modern day police force. The knights did whatever the monarchs declared was needed, which in many cases was some of the most brutal mistreatment of the people at the bottom of society, we have seen in history. There’s a reason why, when people say medieval, it usually means a bad thing.
Which Countries Use Feudalism Today?
Yes, I’m not sure about other countries, maybe I can do some research later on and let you know what other countries have a feudal system. But I live in Australia which has started to become a feudal economic system, where the lords and monarchs rule the country with an iron fist (the knights). And the people who don’t own land, are left behind.
Australia is a Feudal Economic System Today
In Australia, upward mobility is almost non existent today, if someone comes from the lower classes, Australia’s economic system actively works to keeping them at the bottom. Rents in Australia are at a staggeringly high cost, where the only way for someone to afford to keep a roof over their head is to either own the property already or to spend in some cases 50% of their weekly earnings on rent.
Around the 1990’s Australia had a property boom created by inflation. People living in Australia and working full time could buy a property for the equivalent of 6 years income. Also, people living in Australia who had a job, were mostly uneducated. So, the average home owner was an uneducated factory worker or low skilled labour job like that. These people were simply born at the right time and working in Australia at the right time too.
Shortly afterwards, home ownership became impossible for the average person, while people who already owned property kept getting more loans to buy more property over time, which also took advantage of inflation. So, effectively the people who got in at the right time, are now currently set for life and many of their children are too. The only problem here is, people who don’t have parents who owned property are stuck in the lower classes paying rents and will never get ahead.
These people who own property, never really work, they are effectively lords or noble people who charge (steal) wealth from the people at the bottom who rent from them, just to have a roof over their heads. By 2015 the cost of a property was approximately equal to 30 years average wages.
Keep in mind, the average Australian in 1990 was uneducated, yet could still get a high paying job, that ended around 2010 in Australia. By around 2010 to get an average wage in Australia, the next generation needed to have a university degree, which made them far more educated than their parents.
Then once they entered the work force for an average wage, the millennial generation would enter while carrying a university debt. And to make things worse, their boss was most likely to be a baby boomer who is uneducated and unaware that the world has changed. Not to mention probably incompetent at their jobs too, with an alcohol addiction too boot lol. Which is more common amongst the baby boomer generation than the next generations afterwards.
Australian Lockdowns 2020 – 2021
These lockdowns were extremely devastating for the already disadvantaged youth of Australia, and yes, the Australian government didn’t need to lockdown so heavily. But they chose to steal more wealth from the younger generations and transfer it to the baby boomer generation, practically theft.
The flu that went around the world in 2020 mostly was a danger to elderly people, but instead of the lords and nobles taking responsibility for themselves, they asked the monarchs to enact strong lockdowns for the entire country to protect the few land owners at the expense of the many lower classes.
This caused there to be a lack of goods in the system, while the monarchs expanded the money supply, which caused huge amounts of inflation. This destroyed small businesses and younger hard working people from across the country. The younger generations lost their jobs, while having their hard earned savings stolen through inflation, which means that many will never own property and are now doomed to be peasants and serfs for the rest of their lives.
Not to mention mental health, children who are not socialised etc, the selfish actions of the few have done irreversible damage to Australian society that most don't fully comprehend yet.
While on the other hand, the lord and noble classes stayed at home in their comfortable properties, spent money they didn’t earn and inflation increased the value of their properties during the 2020 and 2021 lockdowns. The government spent away the future of the youngest generation, who would have no idea what is going on right now.
Feudal Economic System Is An Unfair System
During the medieval times, the feudal economic system lasted for approximately 600 years. Which means that it has staying power. Unfortunately, for the people who are in the middle and lower classes in Australia today, this means that they will most probably be stuck for the rest of their lives.