Feared or Loved?

In my college prep class we were talking about a quote for a essay we read, "The Prince." To sum the quote up it asked one simple question, Is it better to be feared or loved? I can see it in both aspects. I mean if people fear you they are going to do what you want them to do for the sake of not wanting to deal with the consequences. They are going to do it because they feel like they HAVE to, not because they WANT to. If people love you they are going to do what you want them to do because..... well they will want to do it. They will want to do what is going to make you happy.
Also if you are loved and not feared i think that you will gain a lot more respect from them. I mean if you fear someone you don't have respect for them. You do what they want you to do because they want you to do it. If you love someone you have the up most respect for that person. You are going to do what they want you to do because it will make them happy and you know that it is the right thing to do.
Don't get me wrong to be loved has its downfalls too. If you are loved then you have to worry about messing up. You have to worry about upsetting the ones that love you. By making 1 wrong decision you can loose everyone that loves you.
I honestly think that if you fear someone that you will never be able to gain any kind of respect for them but if you were to loose the ones that love you then you can always get them back.