Neo-feudalism

Neo-feudalism is a term used to describe a modern socio-economic system that mirrors the hierarchical and rigid class structures of medieval feudalism. This system is characterized by the concentration of wealth and power in the hands of a small elite, leading to significant social and economic inequalities, and often includes precarious employment and privatization of public services. Neo-feudalism primarily affects the general populace, particularly the middle and lower classes, who experience reduced access to resources and opportunities.