Monday, December 31, 2007

With hope for the new year.

Reading Bryan Caplan's new book, The Myth of the Rational Voter. Since you can not escape the campaign news about the upcoming primary events, the follow quote is a very sobering thought.
When a consumer has mistaken beliefs about what to buy, he foots the bill. When a voter has mistaken beliefs about government policy, the whole population picks up the tab.
What is the probability of such mistaken beliefs? I would guess that even a failing student in Econ. 101 has a significant knowledge advantage over the average voter.

1 comment:

Peter Myers said...


I would have e-mailed you, but I couldn't find any contact info. My name is Peter Myers, and I'm running for Congress as a Green in the 15th District. I hope you can put up a link to my web site, , and perhaps help in other ways in the future as well.

Thanks for your help,