Though I can no longer vote in Canadian elections -- like Peter Jennings, I'm still a Canadian citizen, but there's a residency requirement -- I'm anxious to see the results. The CBC couldn't begin to discuss them until after 10 pm. The blogs have all sorts of analyses; I like this one by Steve Gordon (a graduate student at UT while I was there) on the irrelevance of macro policy.
Though I couldn't vote, I'm grateful that I could have done so were I living in Canada. The post on J. S. Mill above gives one example of how economists have long been caught up in debates over the franchise and democracy. Long after the extension of the franchise in America, F. A. Hayek reflected on our "delusion" about democratic politics in an 1978 interview with James Buchanan. Mill figures prominently again (along with his father, and Jeremy Bentham):
James Buchanan: "I think it would be useful to start off this discussion, if you would just talk about that a little. Why did we get involved in this sort of delusion (and I think it is a delusion), to the effect that somehow we didn’t need to worry about limiting government if, in fact, we could make the politicians responsible."
Hayek: "Well, I have been very much puzzled by this, but I think I have discovered the origin of this. It begins with the utilitarians with Bentham and particularly James Mill who had this conception that once it was a majority who controlled government, no other restriction in government [was] any longer possible. It comes out quite clearly in James Mill and, later in John Staurt Mill who once says, the people in, what’s his phrase, ‘the will of the people needs no control, if it’s the people who decide’."