Generally I'm in favor of a market-based economy and a democratic form of government. But I am aware that there is HUGE room for variation with respect to both of those categories of institution.
Chapter 5 of my book Truth Evolves discusses this question in depth, and the short short version is that we need to design economic and political institutions in ways that maximize their corrigibility, that is, their capacity for self-correction.
For governments, this means we must strive to make them maximally representative and responsive. Sometimes these values are in tension. A maximally representative legislature would be the same size as the country's population, but would be so inefficient that it wouldn't be very responsive at all. So trade-offs have to be made. But what we should never do is acquiesce in policies like gerrymandering and voter suppression that diminish both the representativeness and responsiveness of government. Institutions like the Senate, the Electoral College, and the filibuster also attack both of these values at once.
With respect to the economy, we should want to allow trade and business creation to proceed as smoothly as possible, but should also seek to distribute the wealth thus created as equitably as possible. Inequality is like sand in the gears of economic growth, not to mention a threat to cultural and political cohesiveness.
If you're interested in reading more of what I've written on these topics, you might check out these articles:
https://medium.com/politically-speaking/the-kind-of-liberty-worth-wanting-fb597c2d207d
https://medium.com/politically-speaking/if-taxation-is-theft-so-is-property-e8318782a008