The primary disadvantages of democracy are a general lack of accountability, the prospect of personal interest becoming the predominant factor in decisions, and negative financial implications. A democracy lays the power to make decisions in the hands of the majority. This, ironically, places an emphasis on both individual and group power. A group controls the decision-making process, but an influential individual can control the group.
The issue with democracy, in spite of the power of the people to control the decision-making process, is that there is no sense of accountability when the group makes a decision that turns out to be a bad one. Even particularly influential individuals in the group who may have persuaded the majority to vote for what led to the bad decision is free from blame because, ultimately, everyone in the group is responsible for his or her choice. In this way democracy, although a group-oriented approach, can become very much about what individuals believe is best for themselves and not for the majority. This type of decision-making also can be very expensive and have negative financial implications. First, a considerable amount of money can be spent in persuading voters to support an idea or cause. Second, voters may embrace an idea or cause, such as lowering taxes, because it sounds ideal when, in practice, it could lead to financial disaster.