Third-world democracies are often driven by large populations of un-educated voters, resulting in poorly chosen elected officials and mass amounts of corruption. A large stable middle-class tends to stabilize the voting, which indirectly stabilizes the country.

Restricting the voters to something elite like 'land owners' defeats the fairness principles enshrined in democracies. A better approach is for the government to restrict voters based on education. To vote, one needs to pass a basic education. To make it fair, the government needs to offer that specific level (it need not be that high) to everyone, guaranteed, for free (and in night courses too). A better educated set of voters will make more balanced choices.