Phased out? No.

Diversity is the key to economic and political evolution.

Sharecropping only came to an end in the middle of the 20th century. From about 1915 onward African Americans in the South were able to find work in the industrial North that paid better and provided more freedoms than in the South. That began to produce a labor shortage in the South, which along with innovations and federal agricultural policy in the 1930s, fueled mechanization that made the remaining sharecroppers redundant.

The key was the availability of industrial work at decent wages. If we lose what's left of that, any newer feudalistic system could be difficult to escape.

And the world will live as one