ABSTRACT. This paper looks at the concept of feudalism. The historical spread of feudalism is briefly outlined, as well as the vacuum in debate about the subject by economists and other social commentators. The paper defines three levels of feudalism; institutions, social structure, and mindset, then looks at the consequences of these characteristics to the values, efficiency, innovativeness, and competitiveness of society. pp. 278–287

Keywords: Asia, class, economics, feudalism, innovation, opportunity, social values