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In the current representative system of democracy in the US, the plutocrats benefit by having an uninformed population and a democratic process that can be influenced by money (advertising). Your fears, in my opinion, actually stem from our current representative system.

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And the population will be uninformed in a direct democracy and advertising can still influence opinion even without buying politicians.

Moreover, the population will be engaged with work and other activities, leaving little time for general education that will make them informed voters.

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