In my opinion No. A constitutional republic is. The evidence is our industrial revolution saving us from a large depression and Grover Cleveland stopping a spending bill on farmers.
https://www.goodreads.com/book/show/608640.How_Capitalism_Saved_America
Here is a pdf review.
https://cdn.mises.org/qjae8_1_6.pdf
But basically the historian and economist Dilorenzo looked into the industries and the data what keynsian and marxist economist talked about being alleged as monopolies. There were 17 industries accused of monopoly
Saying they were restricting output.
They were not. These industries rose 175% in the 1880's, when real gdp rose 24%. Prices fell 17% in the economy as a whole. But they dropped more in the industries alleged to be monopolized. The exact opposite. Steel rails go from 68 to 32 bucks a ton. Zinc falls by 20%, refined sugar falls 22% the pattern holds true for all 17 of these industries with the exceptions of castor oils and matches.
https://econpapers.repec.org/article/eeeirlaec/v_3a5_3ay_3a1985_3ai_3a1_3ap_3a73-90.htm
The next evidence is Singapore.
They have a great economy and a parliamentary republic.
So just a lil bit of democracy. You want a republic. Not direct democracy.
