In the U.S. the law making branch of the government is comprised of representatives elected by the people. These representatives necessarily draft laws to suit the majority who elected them. Ergo, the legislative branch wields power at the behest of the majority, analogous to the wolves in the quote. Governance by mob rule, i.e. pure democracy, entails no inherent constraints on what the government (comprised of law makers elected by the majority) could do to or take from the rest of the populace. We are, instead, a constitutional republic, which constrains the majority-elected government to a narrow set of powers enumerated in the constitution.
The quote was written in 1992 in reference to two lawsuits in the state of California, itself a constitutional republic. One resulted in the quashing of a state law which was supported by the majority but nonetheless violated the state and federal constitutions. The other resulted in the removal of a cross from a popular public landmark. Much outcry was made at the time that the will of the majority was being thwarted.
I'll leave here the entirety of Simkin's posting that contained the quote:
The ACLU's cross lawsuit and the Libertarians' tax lawsuit share an interesting theme. We have been treated to the spectacle of politicians pleading for permission to continue breaking the law. In the case of the jail tax, it is particularly ironic that the lawbreakers say they need the illegal money so they can lock up the lawbreakers. Ask not for whom the lock clicks.
Democracy is not freedom. Democracy is two wolves and a lamb voting on what to eat for lunch. Freedom comes from the recognition of certain rights which may not be taken, not even by a 99% vote. Those rights are spelled out in the Bill of Rights and in our California Constitution. Voters and politicians alike would do well to take a look at the rights we each hold, which must never be chipped away by the whim of the majority.