Yes Craig, this is the Tytler Cycle.
Alexander Frasier Tytler
On democracy...
" It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy."
While we are a Representative Republic -- NOT a Democracy (hence the value of the electoral college, and 2 senators for every state) -- his conclusions about human nature were prescient, given he uttered them in the 19th century.
NDG
