Upon this a question arises: whether it is better to be loved than feared or feared than loved? It may be answered that one should wish to be both, but, because it is difficult to unite them in one person, it is much safer to be feared than loved, when, of the two, either must be dispensed with.

–The Prince,
Niccolo Machiavelli,
1513

In the excerpt, Machiavelli argues that

being loved is more important.
being loved and being feared are equally important.
being feared is more important.
being loved and feared are unimportant.