Feudalism is an economic system that precedes capitalism and the advent of the market system. Feudalism is the name given to the system of government William I introduced to England after he defeated Harold at the Battle of Hastings. Feudalism became a way of life in Medieval England and remained so for many centuries. During feudalism, the offspring of successful warlords became wealthy landowners, who were titled but most of whom owed their ability to protect their turf to a king. The actual production on the manors of these warlords was done by peasants who owned no land and paid a share of their crops to the titled landowners.
The feudal class process is distinguished from the capitalist class process by the lack of choice of employer in the former. In feudalism, the direct producer has an obligation to work for a specific employer within a given sphere of production.
