Consent of the governed is a specific phrase that means something specific. Consent here doesn't refer to the individual libertarian definition of consent, but

Consent of the governed is a specific phrase that means something specific. Consent here doesn't refer to the individual libertarian definition of consent, but rather a broader use of the word. For society to function we need a government, and all people benefit from society functioning and therefore government and so we agree to give certain people power to make decisions and do things no private individual would ever be allowed to do. In exchange the government is responsible to the people, through elections, referendums, protests, general dissatisfaction, and generally tries to take actions which are fair and in the best interest of society and the people. Of course sometimes the government isn't responsible enough to the people, and sometimes the government doesn't quite take actions that are fair and in the best interest of society; no system is perfect, but that's the principle upon which our government and all modern democratic governments are based. We can discuss all day whether or not it's currently working but that's not what you asked about. You can vote out a bad government official who wields power unfairly. If it's a bad CEO, well, you can sit back and pray to Ayn Rand that our lord and savior "the market" punishes him for his choices one day though you know chances are he'll be rewarded.