Final answer:
Feudalism was a system where serfs worked land for lords in exchange for protection and housing. The system ended with the rise of capitalism and the Industrial Society. The decline of feudalism led to greater labor mobility and rights for peasants.
Step-by-step explanation:
The subject of the question pertains to the historical and economic system of feudalism, wherein formerly independent people became serfs pledging their labor on the estates of large landholders known as lords. In return, these serfs received food and relative safety from these lords. This system saw families serving the same lords for generations, with power and land, or fiefdoms, passing down along family lines. However, with the advent of the Industrial Society and the rise of capitalism, feudalism eventually failed and was replaced.
During this period, much of the European population lived in rural areas within a manorial system. Serfs, who constituted the largest social class, had to provide labor and goods to their lords but had few rights. The end of serfdom did not immediately lead to better economic conditions for the common people, as they faced laws that aimed to maintain labor conditions similar to those before the Black Death and systems like the crop-lien system post-slavery, which did little to promote economic independence.
The decline of feudalism and the manorial system led to significant social changes. Massive depopulation due to the Black Death and other factors prompted peasants to leave the countryside in search of better labor conditions or wage labor in the cities. This mobility and the consequent high demand for labor in the countryside eventually allowed peasants to demand higher wages and more rights.