Feudalism can be described as a socio-economic system that emerged in medieval Europe, characterized by the relationship between lords and vassals. In this system, land was owned by a few powerful lords who granted portions of their land to vassals in exchange for military service and loyalty. This structure created a hierarchy that concentrated power in the hands of a small, elite group.
The term ‘oligarchy’ refers to a system of governance where power resides in the hands of a small number of individuals or families. By comparing the two systems, we can see that feudalism indeed operated under an oligarchic structure. The lords, as the ruling class, exercised control over land and resources, while the majority of the population, including peasants and serfs, held little to no power or rights.
In essence, feudalism established a social order where a few individuals made decisions and controlled land, echoing the principles of oligarchy. Thus, while feudalism was a complex and multifaceted system, it fundamentally aligned with oligarchic principles by centralizing power within a select group of landholders.