"The whole point of democracy is to spread political decision-making and create approval-based feedback loops with the population so that good leaders are elected and bad leaders are deposed without resorting to violence. Dictatorships concentrate power to permit more state dynamism but at the expense of this dispersed risk. This makes dictatorships a higher risk-higher reward proposition. A good dictator can do more good without democratic constraints, but a bad dictator can do more bad."
"The whole point of democracy is to spread political decision-making and create approval-based feedback loops with the population so that good leaders are elected and bad leaders are deposed without resorting to violence. Dictatorships concentrate power to permit more state dynamism but at the expense of this dispersed risk. This makes dictatorships a higher risk-higher reward proposition. A good dictator can do more good without democratic constraints, but a bad dictator can do more bad."