The problems with the two extremes of government are well known. Monarchy, oligarchy, aristocracy, plutocracy, and the like are all forms of government in which one person or a small group of people have almost all the authority, land, power, wealth, etc. The problem is that either they are not necessarily wise or competent or benevolent so that the resulting government is generally corrupt and serves the self-interest of the few rather than the interest of the many.
On the other hand the problems of democracy are also well-known, even if they are forgotten or over-shadowed by ideals of egalitarianism or libertarianism. As the ancient Greek democracies show, people exploit the public purse for private purposes, until bankruptcy ends the game. Unfortunately, poor people are inclined to vote for those who give them the most rather than consider the interest of the whole.
The solution to this lacks a word, so I’ll invent one: midocracy, rule of the middle class. The richest and most powerful people should be excluded from voting and ruling since their self-interest is too much for perpetuating their dominance rather than considering the welfare of the whole. The poorest and least powerful people should also be excluded from voting and ruling since their self-interest is too much for undermining the higher classes and impoverishing the whole.
The solution is to let the middle class alone vote and rule. Their interests are balanced between maintaining stability while allowing some change and using of the public purse for some public purposes. The middle class is the most balanced between stability and change, spending and saving, private and public interests. A healthy middle class is the best guarantee of freedom and justice, peace and prosperity for the long term.