Democracy is doomed

I had occasion to visit some of my old posts from Google Circle today. I had clipped a post from the Motley Fool in Aug 2011:

In 1887 Alexander Tyler, a Scottish history professor at the University of
Edinborough, had this to say about the fall of the Athenian Republic some
2,000 years prior:

“A democracy is always temporary in nature; it simply cannot exist as a
permanent form of government. A democracy will continue to exist up until
the time that voters discover that they can vote themselves generous gifts
from the public treasury. From that moment on, the majority always votes for
the candidates who promise the most benefits from the public treasury, with
the result that every democracy will finally collapse over loose fiscal
policy, (which is) always followed by a dictatorship.”