The Myth of the Rational Voter

The greatest obstacle to sound economic policy is not entrenched special interests or rampant lobbying, but the popular misconceptions, irrational beliefs, and personal biases held by ordinary voters. This title looks at how people who vote under the influence of false beliefs ultimately end up with government that delivers lousy results.

"[Persons] who do not grasp the lessons in Bryan's book cannot understand politics as well as persons who do grasp those lessons. Buy a copy. Read it. Ponder it. Learn."---Don Bourdreaux, Café Hayek

Autorentext
Bryan Caplan is associate professor of economics at George Mason University. He is the coeditor of the Weblog EconLog.

Klappentext
"Caplan offers readers a delightful mixture of economics, political science, psychology, philosophy, and history to resolve a puzzle that, at one time or another, has intrigued every student of public policy."--N. Gregory Mankiw, Harvard University, former chairman of the President's Council of Economic Advisers"Why democracies so often make a hash out of economic policy is one of the great questions of political economy. Bryan Caplan suggests some provocative, and highly original, answers. This book may make you smile or it may make you scowl, but it will definitely not make you bored."--Alan S. Blinder, Princeton University"The Myth of the Rational Voter discredits the fashionable view that democratic politics necessarily prevents socially harmful policies. Voters lack incentives to become well informed about political controversies, Bryan Caplan shows, and their policy choices tend to be based on deeply, persistently, and systematically mistaken models of reality. Caplan's findings lead inexorably to the conclusion that democratic governance can be improved only through reforms based on realistic assumptions about human cognition. Anyone concerned about political efficiency should read this elegant book carefully."--Timur Kuran, author of Islam and Mammon"Bryan Caplan blends economics, political science, and psychology in an arresting and informative polemic that is witty, crisp, cogent, provocative, and timely. You may or may not agree with his assessment of our democracy, but you will be entertained, challenged, and perhaps angered, but also enlightened."--Scott Keeter, Pew Research Center"The argument Caplan offers is basically right and is extremely important. I suspect this book will stir up a certain amount of controversy. The argument challenges conventional public choice in that it radically undermines the notion of substantively rational voting. At the same time, it is in the same skeptical tradition as public-choice orthodoxy, challenging the claims of democratic enthusiasts. It is a book that deserves to be taken very seriously."--Geoffrey Brennan, coauthor of The Economy of Esteem"Poorly informed voters are a big problem in democracy, and Caplan makes the interesting argument that this is not necessarily a problem that can be easily fixed--it may be fundamental to the system. Caplan thinks that voting itself is the problem."--Andrew Gelman, Columbia University

Inhalt
ACKNOWLEDGMENTS ix INTRODUCTION: The Paradox of Democracy 1 CHAPTER 1: Beyond the Miracle of Aggregation 5 CHAPTER 2: Systematically Biased Beliefs about Economics 23 CHAPTER 3: Evidence from the Survey of Americans and Economists on the Economy 50 CHAPTER 4: Classical Public Choice and the Failure of Rational Ignorance 94 CHAPTER 5: Rational Irrationality 114 CHAPTER 6: From Irrationality to Policy 142 CHAPTER 7: Irrationality and the Supply Side of Politics 166 CHAPTER 8: "Market Fundamentalism" versus the Religion of Democracy 182 CONCLUSION: In Praise of the Study of Folly 205 NOTES 211 REFERENCES 237 INDEX 267

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