Are We Too Dumb for Democracy?

BK Marcus is in the Freeman today explaining why we humans are so bad at democracy:

Ignorance, like knowledge, tends to be specialized. We all know highly educated people who haven’t a clue how prices and wages work — or what damage is done to the most vulnerable in the economy when someone tries to engineer the price system. The problem isn’t that Americans (and Italians, and voters in every country) are “wrong about almost everything.” The problem is that they’re being asked to make decisions outside those fields in which they have plenty of knowledge.

Read the whole article.