Will the 2012 presidential election be a referendum on democracy?
On the whole, the American Founders agreed with these critics of democracy. The founders rejected democracy for the same reason they rejected monarchy and oligarchy: given that, as Alexander Hamilton wrote, "men are ambitious, vindictive, and rapacious," these irrational appetites and passions inherent in human nature, when concentrated in one governing faction, would cause each to degenerate into oppression and disorder if left unchecked. Fearing this outcome, the founders created a republican mixed government like that of ancient Sparta or Rome as described in the work of the Greek historian Polybius. "The balance of a well-ordered government," John Adams wrote, "will alone be able to prevent that emulation [rivalry for power] from degenerating into dangerous ambition, irregular rivalries, destructive factions, wasting seditions, and bloody civil war." Thus the Constitution established a monarchical executive, an oligarchic Senate, and a democratic House of Representatives, each empowered to balance the other and forestall the inevitable decline into tyranny each alone would undergo if it possessed too much power.
[. . .]
Though this may seem like a dusty political philosophy lesson, remember that the United States has evolved perilously close to the sort of direct democracy that would have horrified the founders. In addition to certain constitutional changes such as the 17th amendment's direct election of senators—which subjects that body more directly to the short-term selfish interests of constituents—more recent developments in communication technology are altering the nature of our republic. Daily polling, the blogosphere, and the 24-7 news cycle have exposed politicians to incessant pressure from fickle public opinion. The growth of special-interest lobbies, also empowered by those same developments in communication technology, has made it easier for political leaders eager for reelection or private gain to pursue short-term economic and political advantage at the expense of long-term planning and the collective good. And the evolution of "democracy" into an unexamined, self-evident good sidelines the traditional criticisms of democracy that so influenced the American Founders.
Though America's drift from republicanism to something closer to a pure democracy has been much discussed, and granted that there is a growing sentiment for turning back the clock, I doubt that the 2012 election will anything as dramatic as as a "referendum" on the whole question. A decisive vote for President Obama or his Republican opponent would be an indication that the voting public leans one way or the other, but it will mean a continuing drift toward democracy or a gradual retreat to something more Republican.