Dictatorships/oligarchies work very well when you have a good dictator. They work horrifically bad when you have a bad dictator.
Conversely, "democracies" work pretty ok when the people leading are doing a good job, and they work sort of bad when the people leading are sucky.
The difference being, democracy spreads out decision making to effectively limit risk.
Think of it like an investment. You can put all of your money on one really volatile stock. Maybe it will do really great! But maybe you will lose 95% of your money in an hour. Or, you can put it in a basket of carefullly-chosen stocks that have the collective goal of a slow, steady climb in value while limiting volatility.
Conversely, "democracies" work pretty ok when the people leading are doing a good job, and they work sort of bad when the people leading are sucky.
The difference being, democracy spreads out decision making to effectively limit risk.
Think of it like an investment. You can put all of your money on one really volatile stock. Maybe it will do really great! But maybe you will lose 95% of your money in an hour. Or, you can put it in a basket of carefullly-chosen stocks that have the collective goal of a slow, steady climb in value while limiting volatility.
Different goals.