I think true democracy would only work in a society where everyone is equally smart/stupid, equally educated/uneducated with equal amount of free time on hands.

I think true democracy would only work in a society where everyone is equally smart/stupid, equally educated/uneducated with equal amount of free time on hands. Otherwise any kind of voting system is similar to your monthly vote on budget, where you, your spouse and your 4 kids have an equal right to vote. In such situation, you endup with unpaid bills, utilities shut down, bunch of candy and newest set of playstation games.