Monarchy at its best is still worse—much worse—than democracy at its best, because democracy at its best respects and actualizes the dignity and fundamental equality of all citizens before the law. That’s something monarchy, by its nature, can never do—even at its best.
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There is no theoretical barrier to a monarchy recognizing individual liberty & equality. The problem is experience: the average monarchy is worse, the worst monarchy is worse, the transition of power is worse. So we limit power. But those are matters of historical reality.
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failure mode of a democracy in a globalist world is arguably worse than a hereditary monarchy (bandits are less stationary). In a nationalist world, I think it would cut towards democracy.
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