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Portmanteau of the english words wanker and dictatorship.

1. A system of government in which a state is ruled by one person with absolute power, where the person involved is a wanker.

2. (informal) A company run on similar terms.
Given Mussolini's policies, the government of Italy 1922-1943 is more accurately described as a facist wankership.
by lawfulhippo April 28, 2006
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2
Used ironically in addressing an important or high-ranking jerk-off, especially a magistrate, mayor, or other elected official. Based on British slang word wanker.
noun: Your Wankership
Sperm donation is a noble but lonely calling your Wankership
by Piers_the_plowman October 24, 2014
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