Welcome to the Investors Trading Academy talking
glossary of financial terms and events. Our word of the day is “Absolute Monarchy”
A government where a monarch (a king, queen or emperor) holds total power and can make
laws without having to consult a parliament or the people.
Absolute monarchy or despotic monarchy is a monarchical form of government in which
the monarch has absolute power among his or her people. An absolute monarch wields unrestricted
political power over the sovereign state and its people. Absolute monarchies are often
hereditary but other means of transmission of power are attested. Absolute monarchy differs
from constitutional monarchy, in which a monarch’s authority in a constitutional monarchy is
legally bounded or restricted by a constitution. In theory, the absolute monarch exercises
total power over the land, yet in practice the monarchy is counterbalanced by political
groups from among the social classes and castes of the realm, such as the aristocracy, clergy,
and middle and lower classes. Some monarchies have weak or symbolic legislatures
and other governmental bodies that the monarch can alter or dissolve at will. Countries where
the monarch still maintains absolute power are Brunei, Qatar, Oman, Saudi Arabia, Swaziland,
the emirates comprising the United Arab Emirates, and Vatican City.