Well, as everyone knows, Democracy is not the best system of government but it is the most safe and guaranteeing. The best system of government is the so-called Enlightened Despotism. The problem with enlightened despotism is that yes, you can have, by chance, a very good tyrant who applies his power for the best, but when his time is over no one knows who will follow, and how he will rule.
Moreover, enlightened despotism is a paternalistic form of government, in which people are not called to take responsabilities in the community and to be part of the government. Democracy, on the other hand, largely failed about that - as regards the current forms of democracy, I mean.
But this is just sophistic pedantry ;)
In Steemit, we have a prince and many lords (or an Owner with a Board of Directors) and a little village of workers and farmers (or little stakeholders). Everyone works for his own interest (not necessarily a selfish one), and each one knows what his interest is (but not for sure what the other's ones are). Here we have to leave Philosophy and run another discipline: Sociology. But now I'm going to have a coffee break ;)