Thucydides criticized Athenian democracy but praised Pericles' democratic rule. What explains these two conflicting attitudes? Breaking with the traditional view that paints Thucydides primarily as a detractor of democracy, this paper argues that Thucydides' praise of Pericles' leadership encapsulates an appreciation of democracy's distinct advantage. Thucydides seeks to draw a sharp contrast between Pericles' effective rule and ineffective democracy, yet he provides the data to reach a different conclusion. Contra Thucydides, Pericles' rulewas a variant of democracy since Pericleswas subject to popular deposition by vote. Pericles' record illuminates democracy's advantage as his success was unlikely in a non-democratic regime. The democratic advantage is both theoretically grounded, as the funeral oration articulates a theory of elitist democracy, and empirically substantiated by the unique military strategy Pericles promoted and his repeated reelection. Pericles’ elitist democracy is relevant to contemporary democracies because it was designed to overcome populist demagogues who emotionally manipulate an uninformed populace.