THE FOUR STAGES
Plato set up four stages of decline, depending on the predominant concern of the leaders.
The ideal is Aristocracy, governed by "philosophers," those who love and cultivate wisdom.
1. Timocracy, governed by lovers of honor or status. They have some virtues, but what they value is the recognition of their deeds.
2. Oligarchy, the government of the few. They value wealth, and thus are composed of acquisitive people, especially the commercial class.
3. Democracy, governed by the people (demos) who value the satisfaction of their desires.
4. Tyranny, governed by someone who values power.