The Magocracy in its essence

Thay was a dark and forbidding land of windswept mountains and badlands.It had the largest population of undead in all Faerûn.

Government:

The land is ruled by a council of eight powerful mages known as Zulkir, each of whom specialized in a different school of magic. each of the eleven regions of Thay is ruled by a separete Tharchion, the civil governors of the realm.

Economy:

The nation relied heavily on slavery, a practice heavily frowned upon by nations throughout the north and northwestern Faerûn. In Thay itself the Zulkirs and other prominent Red Wizards grew rich beyond imagination from this sinister trade. From their strongholds and estates, they used this wealth to constantly scheme and plot the mercantile and military domination of their neighbor nations.