At a conference this weekend, a question was asked that is often asked about markets; it goes something like this: do markets create greed, or do markets at least unleash greed to a degree that greed would not be unleashed if markets were less prevalent in human society?
This question, being one often asked, is often answered. And there are many good answers to it. But hearing this question again this past weekend made me wonder why the following question is almost never asked: does majoritarian democracy create greed, or does majoritarian democracy at least unleash greed to a degree that greed would not be unleashed if majoritarian democracy were less prevalent in human society?
