Bondage deforms elastic (7)
I believe the answer is:
serfdom
'bondage' is the definition.
(I know that Serfdom is a type of bondage)
'deforms elastic' is the wordplay.
'elastic' is an anagram indicator (the anagram stretches or twists into a new form).
'deforms' anagrammed gives 'SERFDOM'.
(Other definitions for serfdom that I've seen before include "Feudal labour" , "Feudal worker's state" , "State of slavery" .)