David Runicam writes in The Chronicle Review that "the history of modern democracy is a tale of steady success accompanied by the constant drumbeat of anticipated failure."
In the 1830s, the prevailing view in Europe was that American democracy could not last, because it was so obviously inadequate for the serious business of politics (especially conducting war and public finance). Americans were prone to panics and busts, and they were prey to political charlatans peddling fantasies of rebirth and renewal. Compared with European monarchy, democracy looked like a petulant and childish system of government. Tocqueville achieved instant and lasting fame by insisting that American democracy would not only last, but was in fact the wave of the future. Its energy and adaptability gave democracy the ultimate advantage over any rival system of government. ...(via Arts & Letters Daily)
[But Tocqueville's] own misgivings about democracy have often been missed by readers keen to hear only the good news about democracy's dynamism. Tocqueville had two fears for democracy. First, he believed that the restless impatience of democracy would lead it to become intolerant and impulsive. Second, he thought that the evidence of democracy's long-term advantages would lead democratic societies to become complacent about the risks they run. Underlying faith in democracy, the precondition for its functioning at all, generates unwarranted optimism.
The present predicament of American democracy is a reflection of those twin fears. On the one hand, there is plenty of impatience and intolerance, revealed in the furious claims both political parties make to speak for the silent majority. At the same time, there is a glib, unspoken assurance that democracy in America is secure and nothing can replace it. There is little push for any alternative system, certainly not for its main rival, Chinese state capitalism, whose champions in the United States are vanishingly thin on the ground. The underlying faith in the durability of the system is what allows America's angriest politicians to bluster.