Neste artigo, proponho-me a tecer consideracoes sobre o debate central que caracteriza a teoria democratica contemporânea, trabalhando, de um lado, com o minimalismo schumpeteriano e, do outro, com uma de suas teorias rivais, a teoria deliberativa. Parto do principio de que, por meio das lentes do minimalismo, a democracia e vista como mercado; pondo as lentes da teoria deliberativa, como forum. E, valendo-me dessas abstracoes, faco da figura bidimensional dahlsiana, originalmente composta pelos eixos competicao (y) e participacao (x), uma figura agora formada pelos eixos mercado (y) e forum (x). A analogia visa a destacar os pontos cruciais das teorias abordadas, de algum modo tornando mais apreensivel a complexa e confusa rede de discussoes que circundam o tema. Terminada a exposicao, concluo ser possivel pensar o debate na moderna teoria democratica como devendo ser direcionado, simultaneamente, tanto a visao minimalista quanto a deliberativa ao mercado e ao forum , porque a interpretacao da democracia como mercado nao exclui sua interpretacao como forum, assim como a competicao, em Dahl, nao exclui a participacao, ainda que ambas possam variar independentemente. DEMOCRACYS MASKS: NOTES ON CONTEMPORARY DEMOCRATIC THEORY IN LIGHT OF DAHLS AXES Abstract In this article, I propose to develop some considerations on the central debate that characterizes contemporary democratic theory, working on the one hand, with Schumpeterian minimalism, and on the other, with one of his rivals, deliberative theory. I start from the premise that, through the lenses of minimalism, democracy appears as a market; through the lenses of deliberative theory, it appears as a forum. Using these abstractions, I go on to bi-dimensional figure that Dahl proposes, originally made up of two axes: competition (y) and participation (x), and now composed by the axes of market (y) and forum (x). The analogy is meant to bring out the crucial points in the theories dealt with, in the attempt to facilitate aprehension of the complex and often confusing web of discussions that surround the issue. I finish with the conclusion that it is possible to think of the debate within modern democractic theory as needing to focus, simultaneously, on both the minimalist and the deliberative viewpoints market and forum because the interpretation of democracy as market dos not exclude its interpretation as forum, just as competition, in Dahl, does not exclude participation, although both may vary independently. LES MASQUES DE LA DEMOCRATIE : NOTES SUR LA THEORIE DEMOCRATIQUE CONTEMPORAINE A LA LUMIERE DES AXES DAHLSIENS Resume Dans cet article, je me propose de reflechir sur le debat central qui caracterise la theorie democratique contemporaine, en travaillant, dun cote, sur le minimalisme schumpeterien et, de lautre, sur lune de ses theories rivales, la theorie deliberative. Je pars du principe qua travers loptique de la theorie deliberative, la democratie est vue comme un marche ; en mettant les verres optiques de la theorie deliberative, comme un forum. En mappuyant sur ces abstractions, je transforme la figure bidimensionnelle dahlsienne, au debut composee des axes competition (y) et participation (x), en une figure maintenant formee des axes marche (y) et forum (x). Lanalogie a pour but de mettre en relief les points essentiels des theories abordees, en rendant plus accessible le complexe et confus - reseau de discussion entourant ce theme. Fini lexpose, la conclusion se fonde sur la possibilite de reflechir sur le debat de la moderne theorie democratique en utilisant non seulement la vision minimaliste mais aussi la vision deliberative marche et forum - , car linterpretation de la democratie comme un marche ne supprime pas son interpretation comme un forum, ainsi que la competition, chez Dahl, nelimine pas la participation, bien que toutes deux puissent varier independamment.