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Published in 1957, 'An Economic Theory of Democracy' by Anthony Downs argues that economic theory can be applied to non-market political decision-making. The book develops an analytical model that follows the paradigms of economic theory and adopts an empirical, data-led approach. It introduces the concept of rational choice theory, where society is composed of rational actors pursuing self-interest. Downs' model explains how voters and politicians behave in democratic systems, including the tendency of two-party systems to exhibit ideological convergence and the role of information costs in political decision-making. The book also discusses the paradox of voting and the median voter theorem, which are central to understanding democratic politics.

In this book, Arend Lijphart analyzes the institutional characteristics of thirty-six democracies from 1945 to 2010. He distinguishes between two main types of democracy: the majoritarian model, exemplified by countries like Britain and New Zealand, and the consensus model, seen in countries such as Switzerland and Belgium. Lijphart discusses various aspects of democratic systems, including party systems, electoral systems, executive-legislative relations, and the role of interest groups. He also evaluates the performance of these democracies in terms of effective governance, policy-making, and the quality of democracy, arguing that consensus democracy often leads to better outcomes in several key areas.