Does Classical Liberalism Imply Democracy?

This paper, written for a classical liberal audience, goes into the fault line running down the middle of the doctrine: does classical liberalism imply democracy? The libertarian wing, represented concretely today in the startup or charter cities initiatives, only requires consent (and exit) so the consent could be to a non-democratic pact of subjection. The democratic form of classical liberalism is represented by the mature James M. Buchanan who held that a liberal social order required people to be principals in their organizations who could only delegate but not alienate their rights of self-governance. That distinction is traced back to the Reformation inalienability of conscience that descends through the Enlightenment to modern times in the abolitionist and democratic movements.