Analyzing the Implications of a Multi-Party System

In the context of the United States' political system, political parties serve crucial roles in structuring electoral competition, mobilizing citizens, and shaping public policy. Consider the implications of a single-party system in comparison to a multi-party system, particularly focusing on voter engagement, legislative efficiency, and policy innovation.

Your task is to evaluate the potential benefits and drawbacks of transitioning the United States from its current two-party system to a multi-party system. In your response, make sure to discuss specific implications for voter turnout, representation of diverse interests, and the overall stability of the political system.