Free-market-oriented economists since Milton Friedman have strongly criticized the efficiency of democracy. They base this on the argument that voters are irrational, among other things. Their criticism towards democracy is that voters are highly uninformed about many political issues, especially relating to economics, and have a strong bias about the few issues on which they are fairly knowledgeable.
No more is this point evidenced than on news forums regarding current events. There is every possibility that the journalists diverge from the masses because the masses are incorrect.
If I had a $ for every forum commenter that talked about the oil in Afghanistan I would be richer than Peter Thiel.
Free-market-oriented economists since Milton Friedman have strongly criticized the efficiency of democracy. They base this on the argument that voters are irrational, among other things. Their criticism towards democracy is that voters are highly uninformed about many political issues, especially relating to economics, and have a strong bias about the few issues on which they are fairly knowledgeable.
No more is this point evidenced than on news forums regarding current events. There is every possibility that the journalists diverge from the masses because the masses are incorrect.
If I had a $ for every forum commenter that talked about the oil in Afghanistan I would be richer than Peter Thiel.
Have a read of http://en.wikipedia.org/wiki/Criticism_of_democracy and just consider whether in some circumstances the consensus opinion may be the wrong one.