I really like this framing by Zizek on pg 177 of his Trouble in Paradise. The discourse on ‘populism’ should be read through this lens: the bewilderment and scorn elites feel when this polite agreement breaks down.
In this sense, in a democracy, every ordinary citizen effectively is a king –but a king in a constitutional democracy, a king who only formally decides, whose function is to sign measures proposed by an executive administration. This is why the problem of democratic rituals is homologous to the big problem of constitutional democracy: how to protect the dignity of the king? How to maintain the appearance that the king effectively decides, when we all know this is not true? What we call a ‘crisis of democracy’ does not occur when people stop believing in their own power but, on the contrary, when they stop trusting the elites, those who are supposed to know for them and provide the guidelines, when they experience the anxiety signalling that ‘the (true) throne is empty’, that the decision is now really theirs. There is thus in ‘free elections’ always a minimal aspect of politeness: those in power politely pretend that they do not really hold power, and ask us to freely decide if we want to give them power –in a way which mirrors the logic of the offer-meant-to-be-refused, as mentioned above.