Let me preface this by saying that democracy holds no mystical sway with me. Like Lord Acton, I believe liberty is the highest political end. Nevertheless, democracy is well regarded by great numbers of people. Among these democrats and Democrats, often the free market is not so warmly embraced. Few things are more democratic than the free market, and so I find this lack of feeling for it by those who claim to support democracy rather contradictory. One may question my conclusion that free markets are democratic. Fair enough, allow me to explain. Dollars (or Euros or Pesos or what … Continue reading The Free Market as a Democratic Institution