“During the Industrial Age prior to 1989, democracy emerged as the most militarily effective form of government precisely because democracy made it difficult or impossible to impose effective limits on the commandeering of resources by the state. Generous provision of welfare benefits to one and all invited a majority of voters to become, in effect, employees of the government.
... Millions of average citizens cannot work together effectively to protect their interests. Because the obstacles to their cooperation are high, and the return to any individual for successfully defending the group's common interests is minimal, millions of ordinary citizens will not be as successful in withholding their assets from the government as will smaller groups with more favorable incentives.
... A relatively small, elite group of rich represent a more coherent and effective body than a large mass of citizens. The small group has stronger incentives to work together. It will almost inevitably be more effective at protecting its interests than will a mass group.”