Democracy, the Open Society and Truth

Karl Popper discovered the link between the open society and scientific dis- covery with the help of his analysis of growth of scientific theories (Popper, 1945, 1959). Only in an open society can hypotheses or models be falsified. His principle of falsification applies not only to scientific argument but also to social science beliefs and political propaganda. Thus, democracy nourishes an open society seeking the truth. Actually, democracy is the sole political re- gime that promotes the truth in an open society. The rationale for democracy is to be found in game theory, in particular the principal agent framework in the economics of information.