The New York Times: Elections Are Bad for Democracy
(web.archive.org)
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I'm not sure any more. If the king feels "ownership" of the country/citizens, then it may well be more likely that a king actually cares about everyone, because people tend to value what they "own." Renters almost always fuck everything up.
Not saying that everybody that owns something takes good care of it, but people very rarely take good care of things that they don't own.