It occurred to me today that there's one social aspect that is very important for libertarians and liberal democratic theory: a smart, well informed, and active populace. It also occurred to me, that if we actually had a smart, well informed, and active populace, there might not be much tension between liberals and libertarians. One common complaint I see raised by libertarians is basically how corrupt government is, or how prone it is to corruption; and a corrupt government is one where peoples freedoms and rights get lost. But this need not happen under proper democratic governance, cause the populace can vote out the corrupt persons and restore working order, and resist stupid idea's. I think this almost mirrors a common problem I have about the free-market; for while I think it's ideally possible for a populace to exert control on the market, I don't think many people consume in such thought-out measures as libertarians want. A dumb populace in a free-market leads to a plutocracy by the power players in the economy, and a restrictino of freedom.
So here's my question: if there was a smart, well informed, and active populace, would there be grounds for disagreement between liberals and libertarians, or would such a populace inherently solve many of the problems that liberals and libertarians disagree on? Is it possible to have such a populace, and if so, how?