You ask a pertinent question that unfortunately will be shut down. The pro democracy movement has convinced us that even villagers in Africa should have a say in our monetary policy. No I am not saying villagers in Africa are stupid, they just have not been exposed to monetary policy. Same way I know nothing about diesel engines but I know about SQL. Democracy says we all have a say even in things we don't understand so we, particularly Africa end up with charismatic leaders who are willing to wing it. I gather from the little bits of history that I have read that most development in the West didn't happen under democratic rule. It is only relatively recently that the common man has had a say. Trouble with dictatorships is that you get good and bad. Rwanda and South Korea have thrived under "dictatorships". Whereas we have become a dysfunctional state. If only there was a way of selecting benevolent dictators and removing them. Alas there is no clear path.