The myth of the rational voter: why democracies choose bad policies / Bryan Caplan. p. cm. Classical Public Choice and the Failure of Rational Ignorance. Review of Bryan Caplan’s The Myth of the Rational Voter: Why Democracies Choose Bad Policies. Francesco Caselli1. December 1London School of. The Myth of the Rational Voter: Why Democracies Choose Bad Policies. By Bryan Caplan. May 29, In theory, democracy is a bulwark against socially.
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The Myth of the Rational Voter: Why Democracies Choose Bad Policies
Refresh and try again. Open Preview See a Problem? Thanks for telling us about the problem. Return to Book Page. The Myth of the Rational Voter: The hte 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 is economist Bryan Caplan’s sobering assessment in this provocative and eye-opening book. Caplan argues that voters continually elect politicians who either share their The greatest obstacle to sound economic policy is not entrenched special interests or rampant lobbying, but the popular misconceptions, irrational beliefs, and personal biases myht by ordinary voters. Caplan argues that voters continually elect politicians who either share their biases or else pretend to, resulting in bad policies winning again and again by popular demand.
Rattional calling into question our most basic assumptions about American politics, Caplan contends that democracy fails precisely because it does what voters want. Through an analysis of Americans’ voting behavior and opinions on a range of economic issues, he makes the convincing case that noneconomists suffer from four prevailing biases: Caplan lays out several bold ways to make democratic government work better–for example, urging economic educators to focus on correcting popular misconceptions and recommending that democracies do less and let markets take up the slack.
The Myth of the Rational Voter takes an unflinching look at how people who vote under the influence of false beliefs ultimately end up with government that delivers lousy results.
With the upcoming presidential voted season drawing nearer, this thought-provoking book is sure to spark a long-overdue reappraisal of our elective system. Hardcoverpages. Published April 1st by Princeton University Press. To see what your friends thought of this book, please sign up.
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I want to get a copy of the book. Would it be possible? They are an awesome resource! You can borrow the book for free, read it, and then return it when you are done with it. See 1 question about The Myth of the Rational Voter…. Lists with This Book. Jul 31, Courtney rated it liked it.
Since I probably won’t finish this book before school starts, I figure I’d put in my review now based on the first few chapters. While I was really excited to see this book come out and feel it’s a topic long overdue for a good discussion, I believe Caplan is too smart for his own good. The premise of the book is that if the average person knows more about economics, our democracy would function better.
Caplan contends that systematic anti-foreign, anti-market, pessimistic and make-work biases c Since I probably won’t finish this book before school starts, I figure I’d put in my review now based on the first few chapters.
Caplan contends that systematic anti-foreign, anti-market, pessimistic and make-work biases cause voters to elect politicians who espouse policies that are against the voters’ best interests. Unfortunately, unlike the captivating and widely-read “Freakonomics” and “Tipping Point,” “The Myth of the Rational Voter” is written for the small audience who probably already support his argument.
If Caplan really wants to eliminate these biases, he is far better-off dumbing down his writing style note to author: View all 11 comments. Nov 18, Mike Edwards rated it it was ok Shelves: Caplan is half right. He explores in some detail why irrationality is inherent to the human condition, and how this necessarily leads voters to make bad decisions. But I have two major problems with the book: Certainly free trade is powerful and good, and while I agree with him that protectionist isolation would be very bad, there are reasonable, nuanced, and intelligent reasons that one might Caplan is half right.
Certainly free trade is powerful fational good, and while I agree ratlonal him that protectionist isolation would be very bad, there are bryzn, nuanced, and intelligent reasons that one might oppose any given trade agreement. He asserts that we should instead move to a “market-based” government, without ever explaining what that is, how it would function, nor how it would overcome the inherent problems of irrationality.
View all 3 comments. Jan 08, catharine rated it it was amazing Shelves: I read this book because ever since Prop 8 passed in California, I have completely lost faith in direct democracy, and started feeling like voting was just opting into a corrupt system of the majority suppressing whatever minority they didn’t like.
This book confirmed some of my mood, but left me a bit bryxn hopeful. The author offers an erudite, economist viewpoint that the perception that voting is just like the free market is wrong because I read this book because ever since Prop 8 passed in California, I have completely lost faith in direct democracy, and started feeling like voting was just opting into a corrupt system of the majority suppressing whatever minority they didn’t like.
The author offers an erudite, economist viewpoint that the perception that voting is just like the free market is wrong because the incentives and risks are nothing like market caplna. The individual cost of voting is very low, and the individual impact of bad policy is even lower.
However the aggregate or community impact of if policy is terrible. I found the analysis of the “average voter” versus an “educated voter” versus an “economist” on a number of issues from taxes to education to immigration to be very telling, and offer the following summary of my brryan from this data: Across all income and education and political affiliations, people vote for policies that they think will make the country better, even when it might not be in their own best interest.
This adds a lot of FUD and fear based rhetoric to the political climate that is unjustified. Examples include polls showing that the elderly are less supportive of Medicare than average and men are more pro-choice than women which I could not corroborate, but I believe the second stat to be one that fluctuates a great deal.
However, if you assume the uneducated ,yth are voting essentially at random, this means that educated voters have MORE of an impact, especially if they mobilize. At the same time, our best course of action for more rational economic policies is his conclusion, I’m not sure I agree is to stop all attempts to “get out the vote” since this results mtyh more uneducated and uniformed people voting.
He believes most people in this country also have an anti-market bias, while criticizing democracy is verboten. He doesn’t mjth that democracy should be rejected, but that the flaws in the system need to be acknowledged and mitigated. One of yhe ways to do this is to increase the average person’s understanding of economic theory, preferably at the grade and high school level. It certainly left me thirsty for more economics knowledge.
I didn’t take ANY economics in any of my educational travelings. Next I want to read his book on child rearing: Jul 30, Carl rated it it was amazing.
The Myth of the Rational Voter: Why Democracies Choose Bad Policies by Bryan Caplan
Requiring my concentration throughout, this book brryan a big payoff in every section. The author presents the economic biases shared by a frighteningly large majority of voters and follows by clearly although with a lot of empirical evidence demystifying these biases in a way that makes your brain feel good.
Caplan, a Princeton economist, cleaves the difference between the rational way we conduct business in our economic lives and the irrational way we hold political positions on economic issu Requiring my concentration throughout, mytb book packs a big payoff in every section. Caplan, a Princeton economist, cleaves the difference between the rational way we conduct business in our economic lives and the irrational way we hold political positions on economic issues and blazes the trail to view the electorate as systematically irrational.
Think of it as book cpalan philosophy with demand curve graphs or the behavioral psychology of truth seeking, this book is invaluable for anyone who has formally studied economics and subsequently sifted through the data available in the media to stake out a position on truth and justice in this world. There’s more to the story than people voting in the perceived economic self-interest. Democracy and markets can’t be examined through the same lens. Best Political Book of the Year -Carl Dec 05, Mike rated it really liked it.
This book is all about economics and the amazing differences in beliefs of trained economists and the voting public. The author posits and offers proof that this is why democracies choose bad policies. The book is not about anything other than economics.
The Myth of the Rational Voter – Wikipedia
If you are interested in other, non-economic, irrational beliefs and how they tie in mythh politics, you won’t find it in this book. This book will probably haunt me until the day I die. It will haunt me before I sleep, and it will haunt me when I wake.
It is a chilling analysis of why democracy, as we know it in America, does not work. It doesn’t work because most people are irrational voters.
People are irrational voters because they vote on their preconceived biases about the economy, foreign policy, etc. And their biases are mostly wrong because they’re uneducated about these matters, and the educated elites that are educ This book will probably haunt me until the day I die.
And their biases are mostly wrong because they’re uneducated about these matters, and the educated elites that are educated about these matters almost always disagree with the uneducated majority on these matters. But since it’s the uneducated majority who wield most of the power Chapter 1 discusses why biased beliefs about economics make democracy worse at what it does.
Chapter 2 discusses the ymth major biases irrational voters fall prey to: Chapter 3 goes over the SAEE and the empirical evidence for the claims made in chapter 2. Chapter 4 talks about what is wrong about rational ignorance, and chapter 5 discusses rational irrationality, that is – the rationality behind being irrational about voting if the information required to be a rational voter takes time to understand, but the outcome for the individual is near nonexistent, why bother with being a rational voter in the first place?
The politician must succumb to the masses and what they want – they demand and the politicians supply. And then the final chapter discusses: If the system is broken, what do we do to fix it?
Caplan calls for a further inquiry into the matter, as well as some tips for reform such as making a law that would require passing a test in order to vote, much like passing a test in order to get a drivers license.
A really fun and captivating read. Vpter would highly recommend it to those who wonder why stupid people like Trump can get elected boter the Republican nominee. It’s not Trump who’s stupid He’s simply the demand. Jan 07, Mike the Paladin rated it liked it Shelves: It can only exist until the majority discovers it can vote itself largess out of the public funds treasury.
Actually to be precise America is not a democracy.