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The third-wave civilization from which the state largely controlled trade, preventing a professional merchant class from emerging is Inca.

Between roughly 1400 to 1533 CE, the Inca civilization flourished in ancient Peru. Eventually, their empire stretched from Quito in the north to Santiago in the south in western South America. At the time, it was the biggest empire the Americas had ever seen and the biggest in the entire world.

The Incas conquered people and exploited the soil in a variety of environments, including plains, mountains, deserts, and tropical jungle, unfazed by the frequently harsh Andean environment. Famed for their distinctive art and architecture, they erected impressive structures wherever they conquered, and their beautiful terracing, roadways, and mountainside settlements continue to astound visitors today at such well-known locations as Machu Picchu.

The Spanish had little to no incentive to keep anything from Inca civilization that they came across. They pillaged its riches and destroyed civilization. The advanced transportation, communication, and political systems of the civilisation were no small feat. Numerous diverse cultures, many of which were based in remote mountain hideaways, were just amazing. They had an incredible amount of wealth, which they craved, but not culture. Though nearly completely destroyed, the civilization was saved by the language's survival and a few remaining artifacts of its culture. The major inspiration from the enormous and generally humane civilization of the Incas comes from the human capacity to believe that such a fabulously affluent, well-ordered, and generally humane society ever existed.

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