Democracy is a system of government in which the right to govern lies with the people. Traditionally, democracy referred to political systems in which the people directly participated in decision-making (i.e., direct democracies). Today, however, the term includes governments in which the people exercise their authority either directly or indirectly through elected representatives.
Democracy is valued for promoting political stability, individual freedoms, and accountability in governance, allowing for peaceful transfers of power and providing mechanisms to redress grievances and injustices.
[Last updated in September of 2024 by the Wex Definitions Team]