The Political Structure of The Kingdom Equestria

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I Have always wondered about the inner mechanizations of the Equestrian political system. As we all know, the country is "led" by a royal family (Princess Celestia, Princess Luna, and Cadence). However, two people running a kingdom would seem problematic. So does the Kingdom of Equestria adopt the policy of Feudalism? Does the Royal Family appoint Lords to govern small fiefs? And if Celestia is a true monarch, is she in favour of Absolute Monarchy or Constitutional Monarchy? Maybe the royal trio is just a public figure and the true decisions are made by a different government, as is the case with the UK. And if that is the case, where on the political spectrum does it fall. Is it a Nationalist body governed by Fascism, or a United Soviet Socialist Republic?

 

P.S  This thread is not tethered by the restrictions of factual or cannon information. 

[sweetolebob18 728]

Since the return of Luna, it is a diarchy (2 rulers).  I've read that ancient Sparta did that.  It is also perhaps a theocracy, with the ponies worshipping Celestia.  As to "How absolute is their power?"  Your guess is as good as anyone's. The only detail given is Ponyville has a mayor, but I've never seen an election.