@coldacid
You 'could have' benevolent Monarchy or something BUT IF you have Monarchy as in "An autocracy governed by a monarch who usually inherits the authority".... then you already by definition set yourself up for a bad game.

TL;DR It's corrupt already or you're chancing it...

The alternatives are plentiful *as a structure* and better game where people are a peg or two down from 'owning' people... and more sharing -not using things just for tax / reaping from the people to grow their own empire which takes over others!!!.
DATS MONARCHY YO! WHERE YOU BEEN ALL THIS TIME!

THE 'LET'S HOPE THEY ARE A NICE PERSON AND DON'T JUST RAPE US FINANCIALLY IS A LOW-CHANCE FLAVOUR OF THE ALREADY TERRIBLE SPECTRUM OF AUTHORITY... :)