February 24, 2012 Around the Web

What are the Limits of Democracy?

People often associate freedom with electoral democracy. According to Prof. Pavel Yakovlev, the freedom to vote is an inherently limited tool for fostering a free society. Although majority vote can serve as a useful tool for expressing the will of the people, it can be taken too far.

Imagine a world governed entirely by majority votes—including your personal decisions! Would you be happy if a majority vote determined who you could date? What you could eat? Now consider the world you currently live in, where you make decisions and purchases in the context of a marketplace. In a market, you can choose goods, services, and activities that diverge from majority trends. Moreover, markets also provide a greater number of choices.

Free markets and limited government depend upon and facilitate individualized and decentralized choices; they create the conditions necessary for a truly free and democratic society.

For more, visit LearnLiberty.org.