Sorry Andrew but countries run by elites always devolve into hellholes ... For reasons unknown elites tend to feather their own nests and the nests of their friends AND then they start to fear the people they're ripping off.
Andrew - the reason you think it would be different here is because you see yourself as belonging to the ‘elites’ who run the place. But tell me, WHAT country run by self appointed ‘elites’ would you like to live in WHERE YOU WERE NOT part of the ruling class?
Come on Andrew - give me your list... Any South American hellholes? Or those in the ME? Cuba? North Korea? China? Iran? Different ideologies but these hellholes all have one thing in common - they're run by leaders who are sure they're ‘oh so much smarter’ than the people...Wake up Andrew.
I remember in my Civics class back in the 50’s the teacher stating a benevolent dictatorship was the purest form of government. And so it would be. The problem being the benevolent dictator dies and you have to rely on what you get next. I think that is what is happening here to some extent...our founding fathers were the benevolent dictators granting us a republic, but as Franklin said to some woman who asked, paraphrasing here, “it’s only good for as long as you can keep it”.