Earlier quoted context omitted.
Plato was always cautious of Democracy. If you are interested I would recommend give his "Republic" a read.
In it is suggested a form of government called epistocracy. It has a lot of merit in my opinion. The basic principle is 'rule of the knowers'. We elect knowledgeable people into power and let them make decisions. We don't vote on what medication a sick child should get, why should we vote on what remedy a sick economy needs? Let the knowledgeable that we have chosen make the prescription.
If only.