He means mercantilism, not feudalism, which arguably never existed at all and was more a description of social contracts rather than economics in the first place at 2:06.

It kind of works, if you also substitute liberalism with capitalism but it’s not a great start. And then he jumps to sharecropping for some reason? It’s weird because it’s actually a pretty sensible point to make but only if you either understand the background or have been reading Freakonomics.

Or don’t understand anything and don’t want to admit that American chattel slavery was the purest expression of capitalism possible, which is why half the “libertarians” want it back.

You could argue that people generally understand the system even if they don’t know the terminology though. Colonial economics are simple and intuitive if brutal.

Edit: bro just called FDR communist 💀

W/e. As long as he joins the revolution.