The Economist's Cookbook

Recipes For A More Free Society

  • "The curious task of economics is to demonstrate to men how little they know about what they imagine they can design."

    - F.A. Hayek

The Flaw in Democracy?

Posted by The_Chef On 1:00 PM 0 comments

This is an article from TCS Daily in which Bryan Caplan is interviewed about the implications of his new book The Myth of the Rational Voter. This is really a groundbreaking piece of work. For those of you interested, look for it online, you probably won't find it in your local bookstore.

Part that I really enjoyed:

"Another observation: If politicians did exactly what voters want, it would be a disaster. Since politicians expect that voters would blame them for a disaster, it is not in their interest to give the voters exactly what they want. So politicians have to strike a balance between adopting popular policies, and getting tolerable results. Maybe this is why almost everyone distrusts politicians - as I say in my book, "The public calls them venal for failing to deliver the impossible.""

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