This level of control is still desired by businesses in the modern era. Company towns were common early in North American history and now corporations use health insurance, equity and bonuses tied to “loyalty agreements”, and so on. All designed to make it harder to leave your employer. The market also suppresses wages for low end workers but inflates it for CEOs, in the same way feudal lords would live it up relative to serfs. The average quality of life for the peasants is better (our bread and circuses are great!) and we have a higher chance of social mobility but things are still not great if you really look at it.