A decentralized form of political economy based on landed estates in which autonomous patrons who owned the land demanded tribute from their serfs (peasants) is called:

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Feudalism was an economic and social system that emerged in medieval Europe, characterized by the ownership of land by a small group of lords who demanded tribute from their serfs, who were bound to work the land owned by the lords. It was a decentralized form of political economy based on landed estates.

A Decentralized Form of Political Economy Based on Landed Estates