Conspiracy theories are essential component for the stability of a democracy because it allows to detect an abuse of power, ie corruption. However, conspiracy theories should be evaluated based on empirical data to confirm or reject them.
Therefore, transparency is another essential component for a democracy to be able to collect the required data to confirm or reject conspiracy theories. Conspiracy theories should always be clearly labelled as such and discriminated from actual conspiracies, which have been confirmed by facts by independent, competent authorities with high integrity.
An example is the investigation of the case of Julian Assange by former UN-rapporteur Nils Melzer, who confirmed the conspiracy between multiple western democracies (US, UK, Sweden, …) to prosecute a so far innocent journalist reporting about war crimes.