From 414 to 481 RKC
Description
A period of prosperity, where the guilds ruled through their newly-founded Guildocracy after the failed Thronebreaker Coup. Though the power lied mostly in the hands of the guilds, having a monarch as a head of state prevented the legislative deadlock that would go on to characterize this government after the end of the Medvedov Dynasty.
While the guilds were quite effective at first, financing projects such as the renovation of Stormhaven's harbour, their power would ultimately wane as the Landsraad would prove to be as out of touch as the monarch they replaced.
Eventually, this prevented them from effectively responding Orcish concerns which caused the War of Unyielding Shadows to start, and the golden age to end.
Significance
This period marked a shift in political power from the royal family, establishing the Guildocracy with the Landsraad at its center. Political power was held mostly by guilds victorious during the Thronebreaker Coup.
Aftermath
Widespread disenfranchisement of Orcs
War of Unyielding Shadows