Correct. To put it another way: he is choosing this word because he is arguing that those in power (neoliberals) view common people as unsophisticated rabble wh

Correct. To put it another way: he is choosing this word because he is arguing that those in power (neoliberals) view common people as unsophisticated rabble who cannot and should not be making important decisions. It is not the author's view, but one emblematic of the very target of his criticism.