> One can have a liberal, conservative, socialist and/or capitalist monarchy, oligarchy or democracy. The latter talk to how power is divided. The former to how it used.

I don't think you can make such a separation so easily. Legislative power is almost dwarfed by the power of capital. When you have a “liberal democracy”, the two parts are in constant conflict. (I don't mean to say socialist democracy wouldn't have similar problems, just that the structure of power is deeper than just elections.)