Which form of government is the best?
My opinion would be an elective Monarchy.
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I'm late to this thread and I know this doesn't answer the question, but I thought this was a nice summary of the different types of government and which one might be the best. This comes from one of Br. Francis' lectures (catholicism.org)

The best form is the philosopher king: authority rests in one man who is benevolent and wise.
The worst is the tyrant.

Government can be rule by one man, a few men, or the majority of men and in each group there is the good and the bad.

When one man is ruling with the common good as a principle of governance this is a monarchy.
When one man is ruling with the good of himself and those with him as a principle of governance this is tyranny.

When a few men are ruling with the common good of society as a principle of governance this is an aristocracy.
When a few men are ruling with the good of themselves and those with them (their class) as a principle of governance this is an oligarchy.

When the majority of men are ruling with the common good of society as a principle of governance this is polity or republic.
When the majority of men are ruling selfishly with the good of the majority as they see it at the moment as a principle of governance this is democracy.

The better forms are monarchy, aristocracy, and republic.
The bad are tyranny, oligarchy, and democracy.

The worst of the better governments is the republic.
The best of the worst is democracy.

Unfortunately, the difference between monarchy and tyranny is huge - major risk depending on who is ruling.
The difference between a republic and democracy is small - settling for the middle muddle.

Despite the great risk, Brother Francis chose monarchy because monarchs can be (and have been) converted but never in history has a democracy converted to the true faith. High risk, high reward.
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A Catholic Constitutional Republic.
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