Feudalism was a dominant social, political, and economic system in medieval Europe, roughly from the 9th to the 15th century. It was characterized by a hierarchy where land was the central element of power and wealth. Under feudalism, a king would parcel out large sections of land to nobles, who were often called lords or vassals. These lords, in return for land, would owe military service and other forms of allegiance to the king. This system created a network of relationships based on mutual obligation and loyalty. The land granted by the king was held in fief, hence the term feudalism, derived from the Latin word 'feodum' or 'fief'.
At the heart of feudalism was the manorial system, which was the organization of the rural economy. Each manor, or estate, was a self-sufficient unit, consisting of the lord's residence, peasant villages, and farmland. Peasants, also known as serfs, formed the backbone of the manorial system. They were bound to the land and were obligated to provide labor, a share of their produce, and sometimes other services to the lord. In return, they received protection, justice, and the right to cultivate certain fields for their sustenance. This reciprocity was central to the feudal contract, though it heavily favored the lords, keeping the serfs in a state of dependency and subservience.
Feudal society was rigidly stratified, and social mobility was limited. The structure was pyramid-like, with the king at the apex, followed by powerful nobles, lesser nobles, knights, and at the base, the vast majority of peasants. Each level of society had duties and privileges that maintained the social order and the functioning of the economy. The feudal hierarchy was reinforced by the Church, which was a pivotal institution during the Middle Ages, providing ideological justification for the feudal order through the promotion of a divine social hierarchy.
Despite its effectiveness in governing during a period marked by frequent wars and general instability, feudalism began to decline in the late Middle Ages. Several factors contributed to its fall, including the growth of trade and cities, which offered peasants alternative forms of livelihood and lessened their dependence on manorial lands. The Black Death also decimated the population, leading to labor shortages and increased bargaining power for the surviving peasants. Additionally, the rise of strong centralized monarchies and the advent of professional armies reduced the military role of the nobles, further eroding the system. By the end of the 15th century, feudal structures had significantly weakened, paving the way for modern state systems. This transition marked a significant shift in the socioeconomic landscape of Europe, leading towards more centralized and organized forms of governance.