Politics as Exchange shatters the illusion of democratic governments acting solely in citizens' best interests, arguing this common view is too optimistic. While a political marketplace exists for making public policy, access is restricted to a powerful elite—legislators, lobbyists, and agency heads—who negotiate deals that the masses must follow. These elite bargains often impose costs on the excluded majority. Author Randall G. Holcombe analyzes these transactions, revealing how political institutions, competition, and citizen mobility are the only factors capable of constraining elite abuse of power.