The Failure Of Democracy

I have been reading Democracy: The God That Failed.

Hoppe's really a private property anarchist, but does point out that logically, the incentives of a monarch bode far better for us than the incentives of our current political masters. A monarch owns his realm, he seeks to make improvements, and pass it on to his descendants. A holder of political office has no ownership of the country; rather he has the ability to use the resources of the country for however long his term of office is for. So, the politicians will spend like crazy now, for they have no incentive to save anything for the future.