Feudalism in the West

I came upon this idea independently, but it appears that there is some discussion in academic circles on the applicability of feudalism to the modern world. Called "neo-feudalism", the argument is that much of our lives are controlled by what are essentially feudal structures.

Under feudalism, money can be exchanged for power and vice versa. This means that someone with enough money can own their own land with its own laws and its own security forces. A rather rigid hierarchy emerges, and the distinction between public and private disintegrates. An example of this might be a mall, which has its own legal code, and is policed by privately funded security forces.

How accurate would it be to say that our lives are largely shaped by feudal interests?

Source: http://feedproxy.google.com/~r/RolePlayGateway/~3/djFsX25RAF0/viewtopic.php

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