I'm also pretty optimistic about democracy. The problem with autocracies is that while any given dictator can be dynamic and capable, and the administration can work well for a while, autocratic regimes tend to stagnate because there are no checks and balances to stop corruption and nepotism.

Also, democracy reduces the amount of violence necessary to keep a state going in tough times. While violence itself isn't a problem in strictly pragmatic terms, it does create a sort of moral malaise that leads to a dispirited, cynical and corrupt governmental culture, that ultimately leads to regime instability.

People often forget that autocracy is what democracy replaced - and the autocracies were replaced not just because they were bad in a moral sense, but that they were also badly run, dysfunctional, and uncompetitive.