The Steel Consortium
A plutocracy run by a consortium, or "table," of sea merchant princes and princesses, some 8-10 seats strong at any given time. Election to the table is a "meritocracy," as long as you consider having a fat purse merit. The people ostensibly get to "vote" between several rich candidates (as one must make and spend a certain base-line of gold to even enter the running), but honestly the entire democratic process is a show-pony sham.
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