Discrediting the system might not worry the Greens very much. They've been happy when governments ignored referendum results that would have reduced the number of seats in the House, imposed hard labour on violent criminals and, most recently, reversed the anti-smacking law.
When the inconsistency of their position on the smacking referendum result was pointed out this week, the Greens argued the Government was right to ignore that one because there had been broad parliamentary support for the anti-smacking bill. They clearly miss the point of non-binding citizens-initiated referendums.
They are designed precisely for issues where a considerable body of public opinion feels it has not been heard with sufficient force in Parliament or any other forum. It would be hard for the most inveterate opponents of asset sales to argue their view hasn't been represented with enough force in Parliament and the media.
The case against asset sales could not have been made more strongly than it has been by Labour and the Greens. Labour made the issue the central plank of its last election campaign, plastering the landscape with anti-sale billboards. Both parties then fought the legislation at every stage and finally, on the eve of the first float, announced an electricity policy that helped devalue the stock.
Their view accorded with the majority in every poll on the subject but the issue has hardly made a dent in the support of National overall. Clearly many voters who do not like asset sales, like the Government nevertheless. The referendum will say nothing new.
Is it time to do away with them? They can be a vent for views that are popular but hard to reconcile with reasoned policy and responsible government. They are non-binding but never entirely ignored. They give democracy a dimension beyond Parliament. Parties already represented there should not subvert it.