Democratic Efficiency: Inequality, Representation, and Public Policy Outputs in the United States and Worldwide

This ground-breaking book demonstrates that the decentralized decision-making processes characteristic of democracies are responsible for making them the most successful countries in the world.

Part I draws upon literature from fields as diverse as economics, computer architecture, and industrial organization to demonstrate that the more equally power is distributed in society, the closer government policy comes to maximizing aggregate social welfare. It also analyzes political business cyc...