They aren’t equivalent. Markets have very strong self-corrective behavior that either punish poor decisions, or reward someone else who fixes the result of the poor decision. Democracy punishes poor voter decisions extremely weakly if at all, and on much longer timescales. The behavior of individual voters can be generalized to the behavior of voters en masse.
They aren’t equivalent. Markets have very strong self-corrective behavior that either punish poor decisions, or reward someone else who fixes the result of the poor decision. Democracy punishes poor voter decisions extremely weakly if at all, and on much longer timescales. The behavior of individual voters can be generalized to the behavior of voters en masse.