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monarchy

Bible DictionaryDictionary of Political Economy
A form of rule in which there is a single head of state, a monarch, with the title of King (or Queen) or its equivalent; in which the monarch holds his or her office for life; in which the position of monarch normally descends by rules of heredity only to members of a specific royal family; and where the monarch is popularly believed to be possessed of a religious or similar symbolic significance for the state and its institutions that legitimate his or her privileges. When the monarch rules with full or nearly full executive, legislative and judicial powers practically unlimited by constitutional or legal restrictions, the system is often referred to as an "absolute monarchy." When the powers of the monarch are effectively limited and restricted by law (at least to insure respect for the subjects' recognized rights to personal freedom and property and often also to limit the monarch's powers of legislation and taxation), the system is normally referred to as "constitutional monarchy."

[See also: republicautocracyoligarchyaristocracymonarchystatedictatorshiptheocracy]


 

Economics INDEX:


List of Terms: Terms beginning with "A", Page 1

Starts With:  A B C D E F G H I J L M N O P Q R S T U V W X
Page Number:  1

A: Page 1 of 1.

AAR
AERO
APEC
Abatement
Ability-to-Pay...Absolute Advan...
Absolute advan...Abundance
Accelerator
Acid Rain
Acquired Endow...Acquittal
Adaptive Expec...Additive
Advance estima...
Adverse Select...Agency problem
Agency problem...
Agency problem...Aggregate Dema...Aggregate Expe...
Aggregate Supp...Aggregate dema...Aggregate supp...
Allocation
Allocative Eff...Ambient Charge
Anarchism
Annual input-o...Antitrust Laws
Appropriation ...Aquifer
Aristocracy
Assets
Assistance In ...Asymmetric Inf...
Authorization ...Autocracy
Average Costs
Average Produc...Average Variab...

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