I would say, that one of the biggest flaws of democracy is, that you have an election period of a few years. Every project, that will pay of later than these few years will not get you reelected. That incentivizes short term over long term projects. Why build a bridge, that takes 10 years to build, if you can use the money to pay out higher pensions during your term? Why try to fix the demographic problem, if that will only hit the country after your term? Why improve education, if the students, that profit from that are not eligible to vote in the next election?