Post‐Party Democracy Can Restore the Rule of the Many Over Money

Abstract

Historically, liberal democracy was born as a means to curb the power of kings and tyrants through mechanisms that would ensure accountability and consent of the governed. A system of checks and balances—two legislative chambers, executive and independent courts—were instituted to ensure power did not become too concentrated.Today's highly diverse, mass consumer societies, however, have presented another set of challenges. Power is so diffused governance is becoming ineffective. The short‐term mentality of voters and the lobbying of special interests undermine the ability of democracies to focus on the long‐term and the common interest. Because there are more checks than balances, gridlock has supplanted consensus.In this section, we compare Chinese and Western systems on their ability to deliver good governance. The editors of the Economist magazine put the debate in historical context.