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Feudalism was simply an economic system that prioritised stability over growth. And it suited medieval Europeans just fine. Feudalism worked because the lower classes were kept uninformed. There was great effort to prevent lower class people, from being able to organise. The reason feudalism would fail today is that the lower class can organise easily and can bypass the columns to gain information. I just don't think it's very probably that we could change it back to that through some kind of political movement.
Modern capitalism with property investment and tenancy agreements has largely become an evolution of the above system. The only real difference now is that instead of a property owning lord we have temporary caretaker politicians who have the most perverse incentives of any political system yet devised.
Even under absolute monarchy, where power was being centralised away from feudal lords, the power of the "state" (and associated monitoring and suppression of citizens) was nowhere near modern states, even those that could be considered free. Peasants thought and worried about peasant things that they have control over. The citizen of the modern state worries about political and economic issues on a scale that they know not how and cannot change, and it creates a societal feeling of helplessness and anger directed at those they believe to be the source of this helplessness. We were never meant to be politically aware. That's a curse meant for a few and not for many.
I think humanity will always come back to something organised like how feudal monarchy is organised. If you strip away everything, the human default is an operational belief in private property and a hierarchical organisation.
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