Also, the role of the Duke would not be as prominent if the city of Venice would not have been selected for the majority of the activity of the play. The city in itself ensures a certain aura that traditional cultural life as well as the fame of a modern, yet traditional in many instances cities, that provides the story a special twist, embedded in culture, yet modern in line of thought. The subject is yet another element that would be interpreted differently had the play been written in a different time and era. The plot, among other aspects, also includes signs of what literary critics nowadays consider anti-Semitism. Therefore, the role of Shylock and the way in which this role was constructed through the perception of all characters in the play, is essential as being the central focus of the play, the person from which most of the events, including the famous trial and speech on the Jews, started. In current social conditions nowadays, such a discourse would be totally unacceptable and seen as lacking human rights dignity.

Finally, another aspect to be taken into account in order to consider the complex nature of the elements comprising Shakespeare's work is related to the actual issues debated and on which the author indirectly drew attention. Therefore, motives such as mercy, un-conditioned support, the law, are all aspects that have been touched upon in the play. Yet, the choice of words and that of the characters...

Therefore, the complexity of the play is ensured by the combination of factors, myths, legends, and characters. In a different setting, such as the one of today's world, such motifs would most likely not provide the same impact as they did in Shakespeare's play.
Overall, the complexity and magnitude of Shakespeare's plays is remarkable from many points-of-view. One of these points is related to the way in which the use of a particular aspect, the choice of scenery and of the characters. These provide consistency. At the same time though, if placed in a different scenery and historical and literary background, this complex structure would be affected to its fullest. Such an imagination exercise would imply the reconsideration of the characters that were in fact, most of them, of dignifying positions. Similar with the settings: if changed, it cannot benefit from a particular type of location that provides a sense of history in itself. Finally, the characters are crucial and part of the complex nature of the play. If moved into a different era, different city, the impact would not be that positive and would not ensure discussions over the signification of one word or another.

Reference

Shakespeare, W. (n.d): "The Merchants of Venice." MIT resource center. Available at http://shakespeare.mit.edu/merchant/full.html