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The Case for Authoritarianism | Vitalik Buterin & Noah Smith

Bankless

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Democracies as Information Aggregators

  • Democracies aggregate information about people's preferences through voting.
  • The 'median voter theorem' suggests that the median preference becomes policy.
  • This system allows people to choose between different policy options (e.g., high tax/high services vs. low tax/low services).
  • While not perfect, democratic information aggregation is seen as better than totalitarian systems.
  • Totalitarian leaders may implement unpopular policies due to lack of feedback, potentially leading to violent overthrows.
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