Plato believes Democracy is the second lowest form of government.
I'm more in line with Churchill -- Democracy is the worst form of government, except for all the others. I don't accept that a man and particularly his descendants are better humans than me because they own the rights to a mine, or invented <technology X>, or that their great-great-grandfather owned a manor somewhere while mine was farming somewhere else.
[1] http://en.wikipedia.org/wiki/Plato's_five_regimes
* Just kidding.
2. Timocracy
3. Oligarchy
4. Democracy
5. Tyranny
He believes Democracy is just a brief transition phase to Tyranny.
The highest is an aristocracy run by philosopher kings who rule by reason and wisdom and dedicate their lives to this and are not allowed to own property.
Or do you mean that Plato was possessed of a higher intelligence than puny mortals like us could hope to properly contemplate, possibly even incapable of error, and therefore we should defer to his musings without using our critical thinking to apply the benefit of 2,360 years of hindsight?