I think a good way to think about this is to turn it around. Whatever your job is - operating a machine, handling a certain kind of documents, etc. - do you think it could be done better through democracy within the company than by yourself? You who obviously have the education and/or talent for it, since you were hired, and the first-hand experience of doing it for however long you've been doing it.

Probably not. And just the time it would take to vote on every button to push, every word to write, etc. would slow things down considerably.

The same goes for the people deciding. That's their job, and if they don't do it properly, they, just like you, risk not getting a raise, getting a pay cut, or being fired. Only not by a superior in the company, but by the market.

@Guy Swann This reply might interest you too, tagged you in case you don't get notified otherwise.