Although the terms are similar, neoliberalism is distinct from modern liberalism. Both have their ideological roots in the classical liberalism of the 19th century, which championed economic laissez-faire and the freedom (or liberty) of individuals against the excessive power of government.
The 'feudal system' is the name for a power structure where people held their land in return for promising loyalty, known as doing homage, and providing services such as working or fighting for their lord.
It was similar to the European feudal system (pope, emperor or king, feudal barons, and retainers in Europe compared to emperor, the shogun, the daimyo, and samurai retainers in Japan), but it was also very bureaucratic, an attribute not associated with European feudalism.