Book excerpt: In this urgent wake-up call, Philip Coggan shows how democracy today faces threats that we ignore at our own risk. Amid the turmoil of the financial crisis and high debt levels, it is easy to forget that the ultimate victim could be our democracy itself. Tracing democracy's history and development, Coggan revisits the assumptions on which it is founded. What exactly is democracy? Why should we value it? What are its flaws? And could we do any better? Coggan proposes ideas for change and improvement to the system itself so the next vote we cast will not be the last.