Democracy is a logically flawed system. Even the US, which tries to impose democracy on everyone, was a republic, and it's founding fathers detested democracy, labelling it "mob rule".
The reason democracy is flawed, is that in any society, the majority is not neccessarily right. In the world's first democracy, Athens, they all democratically voted to wage wars and obliterate weaker states in their vicinity. Two wolves could democratically vote to devour a sheep, even if the sheep gets a vote.
Corrupt politicians get to sell the uninformed masses with promises of riches, and the masses always elect these folks despite their corruption. In India, for example, the wealth could be used to lift the lives of the poor people, but the corrupt politicians specialize in understanding what promises the people would really fall for, and get elected very consistently.
Even in the US, people like Obama get elected by the masses, not because the person was or is a great leader by any stretch of imagination, but because he was great at playing with words. And Bush before him, got elected twice, despite being relatively incompetent, because of a good PR team.
In the golden words of a great poet of our subcontinent, democracy is a system of government where people are counted, but the value of their opinions are not weighted. A very learned and wise person, capable of making well-informed decisions, gets the same one vote that a uneducated and uninformed person gets. Unfortunately, there are alot more unsophisticated and uninformed people in this world, even in places like the US where public education is mandatory.
Personally, I like the Nordic way of government. People *know* their rights, if some government MP or representative steps out of line, people show up in strength and demand that things be righted. If the populace is aware of their strength, they can keep any kingship, democracy, or dictatorship style of government in line.