And whilst I would agree with you that a consensus is not necessarily correct – because of course there are occasions when it is clear that is not true – to view as you do the process of democracy that reflects, albeit imperfectly, a consensus view on most occasions as illegitimate and unable to regulate because it might (wholly appropriately) restrict the right of the market that operates in the interests of a tiny elite to exploit the vast majority is as I rightly described it utterly repulsive.
He does seem incapable of understanding that the market is simply the aggregated opinions of the populace, doesn\’t he? That as such it\’s a highly democratic institution?
In ways that electoral politics dominated by a tiny elite, in ways that the capture by producer interests of the regulators, is not?
No, I do not argue that \”the market is democracy\”. Rather that it\’s one of the voices of the Demos. A very powerful one, one less likely to be muzzled by elites than the vote for whichever thieving bastard you like every five years of the ballot box.