Let me start by saying I’m all in for the success of the Tezos governance.
What is a republic and what is a democracy.
For the definition of the concept of Republic, I will use the objectivist definition from Leonard Peikoff:
For democracy, I will use Ayn Rand definition of the concept:
As history has shown, multiple and multiple times, democracies ALWAYS fails, this is because the tyranny of the majority can collectively decide to violate individual rights such as property rights, in a real democracy, if the majority decide to kill you, even tho you didn’t commit any crime, it becomes “correct” and “legitimate” because the majority decided through a vote, or if the majority voted to expropriate your home, it becomes legitimate and therefore correct, you can see with these examples why democracies always fails.
Right now, in Tezos, there is not a limited constitution that can forbid the majority to do that. Arthur is a genius, but he didn’t think about this.
Right now Is only “limited” by the rationality of all bakers that vote, but not by a constitution. If the majority of bakers vote to expropriate someone else property, you can bet, this will become like Zimbabwe and Tezos price will drop to 0, really to 0, nobody will want to be in a blockchain that can expropriate someone else property. But we can say all democracies that failed, were limited by the rationality of its participants, and right now, Tezos is like that.
I urge, a way to implement a constitution in Tezos, I’m all in for GOOD governance, not a democracy.