Feudalism vs Capitalism

Here is a simplified org chart showing the pecking order of a medieval society:

But all of that changed when feudalism was replaced with capitalism. With this new, capitalistic arrangement, the old, feudal relationships and customs fell into disuse, replaced by a new system in which the ever-richer owners of capital squared off against increasingly dispossessed labour. The trade union movement and collective bargaining allowed labour to hold its own for a while, but eventually a number of factors, such as automation and globalization, undermined the labour movement, leaving the owners of capital with all the leverage they could want over a demoralized surplus population of former industrial workers. In the meantime, the owners of capital formed their own pseudo-aristocracy, but without the titles or the hereditary duties and privileges. Their new pecking order was predicated on just one thing: net worth. How many dollar signs people have next to their name is all that’s necessary to determine their position in society.