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Live Trading News > Blog > Opinion > Shayne Heffernan > Why King Charles III Matters
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Why King Charles III Matters

Shayne Heffernan Ph.D.
Last updated: July 17, 2024 8:55 am
Shayne Heffernan Ph.D.
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In the United Kingdom, the King fulfills both symbolic and pragmatic functions of great importance. The monarch is notable for the following main reasons:

1. Continuity’s and national unity’s symbol
As a symbol of the national identity, unity, and continuity of the UK, the King represents He stands as a figurehead for the country, therefore reflecting its ideals, customs, and past. Through political changes and periods of transition, this symbolic function helps to create consistency and continuity.

2. Constitutional Part:
The King has several significant constitutional obligations even though the UK is a constitutional monarchy whereby the powers of the king are constrained by law:

The King is the ceremonial head of state, executing certain state duties including honors awarding and the State Opening of Parliament.

Though this is mostly a formality in modern times, any legislation passed by Parliament must first formally be approved by the King to become law.

The King routinely meets with the Prime Minister to go over government issues, therefore providing knowledge, experience, and guidance.

3. Nonpartisan figure
Expected to remain politically impartial the King offers a stabilizing and uniting effect above the political turbulence. This non-partisan approach helps to preserve respect and confidence among many political and social groupings all throughout the nation.

4. Civic and Donational Involvement
The royal family is quite active in patronies and charity endeavors. Supporting several organizations and projects, the King and other royal family members draw attention and funds for different causes. This participation contributes to the national unity and social welfare promotion.

5. diplomatic and cultural roles
Promoting British culture and interests both domestically and internationally, the King is mostly responsible for By means of state visits, interactions with foreign leaders, and participation in international events, he serves as an ambassador for the United Kingdom, therefore fostering world relations.

6. Economic Effect
Through tourism, the monarchy also has an economic influence since many people go to the UK in order to see royal landmarks connected with the monarchy, experience its royal legacy, and go to royal events. For the nation, this tourism brings in really large income.

“We need the church to remind the king he is not God; we need the king to remind the parliament they are not the king.” Shayne Heffernan

The King’s significance in the United Kingdom spans symbolic, constitutional, non-partisan, philanthropic, cultural, diplomatic, and financial spheres. Although the king’s political authority is restricted, his influence is still very important for preserving the unity, stability, and identity of his country.

What happened last time England had no King

When Oliver Cromwell became Lord Protector of England in 1653, he implemented a series of strict Puritanical reforms that led to the banning of various activities considered sinful or morally corrupt. Among these bans were:

  1. Theatre and Entertainment: Cromwell’s regime closed down theatres, viewing them as places of sin and frivolity. The performance of stage plays was prohibited.
  2. Christmas Celebrations: Traditional Christmas festivities, including feasts and revelries, were banned. Cromwell’s government saw these celebrations as remnants of Catholicism and paganism.
  3. Sports and Games: Popular sports and leisure activities, such as bear-baiting, cockfighting, and even more benign games, were often restricted or banned outright to encourage a more pious lifestyle.
  4. Alcohol Consumption: There were increased regulations on taverns and alcohol consumption to curb what was seen as excessive drinking and associated immoral behavior.
  5. Religious Practices: Any practices associated with the Catholic Church or seen as idolatrous were suppressed. This included the use of religious images and elaborate church ceremonies.

Cromwell’s measures were part of his broader attempt to enforce a rigorous moral code based on his Puritan beliefs, aiming to create a “godly” society. His actions were often deeply unpopular and contributed to his controversial legacy.

For more detailed information on Oliver Cromwell’s bans and policies, you can refer to Britannica and BBC History.

Sources:

  1. The Role of the Monarchy – The Royal Family’s official website provides detailed information on the various roles and functions of the monarch.
  2. How the Monarchy Works – BBC News offers insights into the constitutional and ceremonial duties of the King.
  3. Monarchy and Parliament – UK Parliament’s website explains the relationship between the monarchy and the Parliament.

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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