53 pages 1 hour read

Anthony Downs

An Economic Theory of Democracy

Nonfiction | Book | Adult | Published in 1957

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Before You Read

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Super Short Summary

An Economic Theory of Democracy by Anthony Downs is a 1957 treatise that applies economic principles to political decision-making, proposing that political actors, like market participants, seek to maximize benefits. Downs develops a model where voters choose candidates who promise the greatest returns, while politicians aim to secure votes for power and influence. The book explores rational choice theory, uncertainty, information costs, and provides hypotheses for empirical testing of political behavior. Some of its content reflects the social attitudes of the 1950s and uses androcentric language.

Reviews & Readership

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Review Roundup

Downs’ An Economic Theory of Democracy is highly praised for its rigorous application of economic principles to political science, offering valuable insights into voter and party behavior. Critics, however, argue that its rational actor model may oversimplify complex political dynamics. Despite some flaws, it remains influential in the field.

Who should read this

Who Should Read An Economic Theory of Democracy?

Readers with an interest in political science, public choice theory, and the intersection of economics and democracy will enjoy An Economic Theory of Democracy by Anthony Downs. Comparable to Milton Friedman’s Capitalism and Freedom and Kenneth Arrow’s Social Choice and Individual Values, it appeals to scholars of rational choice theory and political economy.

Recommended

Reading Age

18+years

Book Details

Topics

Business / Economics

Politics / Government

Philosophy

Themes

Society: Economics

Society: Politics & Government

Values/Ideas: Order & Chaos

Genre

Education

Social Science

Philosophy