Democracy is efficient at getting shit done. As uncareful as this metric is defined.
But I would say even more importantly, democracy is very efficient at limiting internal bloodshed. It provides a well-defined, peaceful process for people to grab power. The power is limited, but you don't have to kill people to gain it, and in turn you don't risk getting killed yourself by the next upstart.
I agree. One of the most important and successful aspects is the relatively peaceful transfer of power.
Personally I'm more concerned that the government remains responsive and, for lack of a better word, humble.
(That's part of why the Kingdom of Bhutan is so amazing: the don't measure GNP, they have a measure called Gross National Happiness that they take pretty seriously. Heh. They really seem to have their kit together. It's a Third-World country you can't emigrate to.)
But I would say even more importantly, democracy is very efficient at limiting internal bloodshed. It provides a well-defined, peaceful process for people to grab power. The power is limited, but you don't have to kill people to gain it, and in turn you don't risk getting killed yourself by the next upstart.