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The Democratic-Republican Party was an American political party formed by Thomas Jefferson and James Madison in 1791â93 to oppose the centralizing policies of the new Federalist Party run by Alexander Hamilton, who was then Secretary of the Treasury and chief architect of George Washington's administration.
Currently, the United States has two major political parties, the Democratic party and the Republican party. There are also various third parties, but their political clout is generally considered marginal at best. Roughly speaking, political parties serve the same purpose in the political world as denominations or sects serve in the religious world. If an individual were the only person alive on an island, his or her word would be considered law.