The Liberty Papers

Pretty much sums up one of the main problems with modern democracy:

In a widely quoted book entitled The End of History, Francis Fukuyama wrote about the intellectual and practical triumph of democracy as a system of government. No further political paradigm shifts would be required. Democracy was the omega end point of the historical process of human sociopolitical evolution. Great reading, perfect for the 1990s when American triumphalism and the Washington Consensus reigned supreme. But Fukuyama seems to have overlooked the tendency of modern democracies with universal suffrage to glacially move towards bankruptcy by promising their voters entitlements that these governments cannot afford.

Democracy is the rule of the popular, not necessarily the just. And voting yourself goodies from yourself the public purse will always be popular.