This is the English translation of Prince Philip of Serbia and Yugoslavia's statement about his views on the benefits of a monarchy structure of governance. Published on December 26th 2023.

"In light of recent events and social unrest, I wish to share my perspective not as a critic but as an advocate for a governance model that I truly believe in — monarchy. As someone who embraces this ideal, the concept of a republic, to me, appears inefficient. I refrain from endorsing any political faction; my civic participation, such as voting, is merely to inspire our citizens to exercise their rights. My ballot is personal, potentially even blank, symbolising my stance that the real answer lies not within party lines but in the structure of our governance itself.

Why monarchy? The reasoning is multi-faceted:

1.⁠ ⁠Long-Term Planning: Monarchs, as hereditary rulers, focus on the long-term health and wealth of the nation, thinking ahead for future generations.

2. Property Rights: Monarchs, as owners of their realms, have a strong incentive to uphold property rights, essential for economic stability.

3. ⁠Lower Time Preference: Monarchies prioritise long-term prosperity over short-term gains, leading to more sustainable economic policies.

4. Stability and Continuity: The clear and predictable succession in monarchies offers a stable form of governance, beneficial for economic and foreign policy planning.

5. Reduced Rent-Seeking: Monarchies have fewer opportunities for rent-seeking compared to democracies, where special interest groups can influence policy.

6. Protection Against Majority Tyranny: Monarchies are less prone to the tyranny of the majority, as the monarch’s legitimacy isn’t dependent on majority opinion.

7. Election Cycle-Driven Short-Termism: Politicians in democracies, constrained by the need to win elections, prioritise immediate, popular measures that win votes over long-term, sustainable policies.

8. ⁠Incentive for Personal Gain: The relatively short tenure of democratic leaders create an incentive to accumulate wealth and benefits quickly, at the expense of long-term national interests.

9. ⁠Policy Inconsistency: Frequent changes in leadership lead to inconsistent policies, disrupting long-term planning and economic stability.

10. ⁠Impact of Special Interests: Politicians in democracies are more susceptible to influence by special interest groups, tailoring policies for immediate benefits rather than the overall good.

11. Absolute Accountability: In democracies, accountability can be diluted as leaders involved in scandals can be replaced, and political parties may offer different platforms but act similarly once in power. A monarchy, however, stands as the singular entity fully accountable for the nation’s political success and failures. Thus, when significant events unfold, the responsibility resides solely with the monarchy, ensuring that the blame is not diffused or passed onto others.

As a supporter of hard money principles, I am committed to the economic stability and freedom of Serbia. My dedication extends beyond current politics; it is about fostering a deep, lasting connection to our homeland for my children and their progeny. My work and my legacy are for the long-term prosperity and liberty of our nation."