This is a fake proposal.

First, you need to prove that any democracy is a real reflection of the opinions of the majority of the people. Of course, the majority do not necessarily have the correct opinion.

If all of your elections involve a minority of the total population, you cannot derive a decisive conclusion from the small sample.

In fact, the name of the ism is not really that important: after the ism can produce good economical results, you can name it anything as you wish.