When a ruler holds total power it is a dictatorship
The correct answer is - corporations.
The growth and constant development of the industry enabled suitable conditions for the formation of the first corporations. The corporations are basically businesses that are owned by multiple investors. All of the investors buy stocks of the company, or are given certain amount of stocks for holding a certain high position in the office of the company. The amount of stocks an investor has is reflected on the profit the investor gets, the more stocks the more profit and vice versa, but also more stocks mean more investment as well in the company.
This type of businesses saw a rapid growth and quickly they became the dominant business type in the Western countries, in fact they are still the by far most dominant business type in the present day.
