You got that backwards. Elites are the ones that benefit from letting people "vote" with money – since they have more of it. That is the opposite of democracy.
I'm not saying we shouldn't try to make ethical choices and just wait to regulation. But it is rarely sufficient. Boycotting a company as an individual has very little effect on the company but does inconvenience the individual. Doing that can feel good but it's actually pretty irrational. Organized boycotts are much more effective. And regulation is the ultimate (threat to) boycott.
If technology turned people into enlightened, selfless beings things would be different. I don't see that happening, to the contrary.
Furthermore, people have limited time and energy. They can't investigate in detail every product they consume.
I'm not saying we shouldn't try to make ethical choices and just wait to regulation. But it is rarely sufficient. Boycotting a company as an individual has very little effect on the company but does inconvenience the individual. Doing that can feel good but it's actually pretty irrational. Organized boycotts are much more effective. And regulation is the ultimate (threat to) boycott.
If technology turned people into enlightened, selfless beings things would be different. I don't see that happening, to the contrary.
Furthermore, people have limited time and energy. They can't investigate in detail every product they consume.