Interesting definition of Feudalism, but if that's how you want to define it, then yes. The average person is to stupid to make reasonable decisions on complex matters. Much more obvious problems are shown by the tech bubble or sub-prime mortgages, or not seeming to care about their grand children's finances as they dig a deeper and deeper whole for them to climb out of. Finances are a very easy thing to grasp and people make incredibly stupid decisions based on a combination of ignorance and gullibility. And those ignorant asses affect me and you, so please don't expect me to think that Joe Average is going to make great decisions about complex science and statistics, in particular when the major effect is going to be on the next generation after them. They'll grasp any evidence that supports their initial belief which ultimately will be about their personal finances, or what their religious or political leaders tell them, or saving the forest, or whatever their ideology is. Even worse is that they get to impact people in other countries that are to poor too make such decisions.