Democracy is a word that we associate with freedom and efficiency. It is also a thing, as far as we know that worths fighting for it. But how efficient is it really? the etymology of the word means basically, rule of the people. So in a perfect society, democracy is the best possible government available. It is efficient, and that is all that matters. Since this is not a perfect society, democracy is not the best government, according to Aristotle, aristocracy is without a doubt the best type of government we can have. Using this idea and the perfect competition concept, we can say that perfect democracy is an aristocracy in perfect competition, which means that no agent has market power and everyone is a price taker. In politics this would mean, that the political power is the same for everyone, and every decission is going to be respected. Having this model of perfect democracy, it is easier to make an approach to a more efficient democracy. We must put some restrictions to the voting process, and I am not talking about properties, or wealth. The aristocracy of our society would be educated people, with self-reasoning capacity, otherwise we are risking ourselves to be guided by a bunch of sheeps, and sheeps without a shepperd will only reach the abism.
This may not be a major problem in North-America or Europe, where the education rates are high, but think about Latin America, or Africa. Countries there have in the best cases only eight years of education as an average, and some politicians take advantage of that by promising impossible things just to get the job. And then goes corruption and inefficiency.Since politicians would know what they are dealing with and who the voters are, they would not promise impossible things to do, instead they would be realistic, and the competition between candidates would make its part in protecting the interests of the vulnerable population, since they would still need the votes.In conclussion, in order to make democracy as efficient as possible, some restrictions should be applied. Not having your whole upper secundary and a criminal history with serious crimes, should make you unable to vote. This way, we will have less bad politicians promising things they can't achieve and taking advantage of people with poor judgement.