The midterm elections are over and the citizens of the U.S. can lean back, relax and watch helplessly what their representatives on Capitol Hill will do with the powers delegated to them. In economic terms, the principals chose their agents and are now totally at the respective agent's mercy (for an introduction see Pratt & Zeckhauser [1991]). For those who believe in liberalism the question arises, why a representative democracy is necessary. I mean why can the relevant political issues not only be discussed but also decided not on behalf of the people but by the people? Looking back in … Continue reading Why Do We Need Representatives? A Proposal for Direct Instead of Indirect Democracy