feudalism: system of rule by local lords with ties of loyalty to a king.
Feudalism in Western Europe was similar to feudalism in Japan in that: power was based on class relationships.
Hope this helps.
I would say that good judgement comes from considering the outcomes of your decisions.
This is not something that is a "talent": something that one is born with, or something that can be done without thinking too hard. Instead, one actually has to consider the outcomes of the decisions to be able to evaluate them.
It lowers costs because it encourages competition
Declaration of Independence i think