In democracy, if the median voter is a fool, everyone has to live under foolish policies. The great redeeming feature of markets is that anyone who figures out that, say, organic food is a waste of money can immediately stop wasting his money. This is far from a perfect system. But democracy, unlike markets, adds injury to insult. In the market, the rationalist suffers fools. In democracy, the rationalist doesn’t just suffer fools. He obeys them. Or else.