Democracy, theocracy, republic, ... What regime would you like to live under and why? If you were the top guy (president, prime minister, dictator etc) and free to introduce any political system you liked, what would you choose for your country? As a ruler and a subject, I think I would choose a democracy or maybe a kingdom, but only if the royal family was not corrupt, because they can do most good for their people.
A true democracy is the best. However, there really is no such thing due to the sheer amount of people. Thus, the republic is born. Contrary to popular belief, the US is not a democracy, but a democratic republic. Theocracy should not even exist. Religion is not good to mix with politics.