Feudalism is defined as a Medieval European political, economic and social system from the 9th to 15th century. An example of feudalism is someone farming a piece of land for a lord and agreeing to serve under the lord in war in exchange for getting to live on the land and receiving protection.
Here is a Modern-day Example from what I understand of it:
The Mafia. The real mafia. All power flows down, all wealth/tribute flows up.
A boss (lord) anoints a capo (baron) who anoints soldiers (knights). The soldiers owe fealty (military service) and tribute to the capo and he owes the same to the boss.
The capo and soldiers are allowed, in return for fealty & tribute, to operate in certain areas (land).
I believe that the whole concept was based on the feudal system.
