tag:blogger.com,1999:blog-7464708.post1258416602763948562..comments2024-02-29T05:08:47.676-05:00Comments on Kids Prefer Cheese: Democracy is a bad ideaMungowitzhttp://www.blogger.com/profile/02340064320347875601noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7464708.post-88854997007842112302012-10-25T22:58:45.137-04:002012-10-25T22:58:45.137-04:00Did Achen and Bartels determine that a majority of...Did Achen and Bartels determine that a majority of economists process economic information rationally?<br /><br />Given some texts, blogs, articles, etc. I've read, I'm not sure economists as a group do much better than mere mortals. :-)Thomas Whttps://www.blogger.com/profile/05701283200252131890noreply@blogger.comtag:blogger.com,1999:blog-7464708.post-20508694425139556102012-10-25T18:01:24.193-04:002012-10-25T18:01:24.193-04:00Churchill also said:
"It has been said that ...Churchill also said:<br /><br />"It has been said that democracy is the worst form of government except all the others that have been tried."<br /><br />I guess he has mixed feelings on the issue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7464708.post-6983945927929979692012-10-25T14:19:54.329-04:002012-10-25T14:19:54.329-04:00Democracy is a bad idea
Unless you come up with a...<i>Democracy is a bad idea</i><br /><br />Unless you come up with a better alternative, all this makes me think of is <a href="http://mungowitzend.blogspot.com/2012/10/are-some-people-just-too-ignorant.html#links" rel="nofollow">this</a> and the self importance of academics who think too highly of their own intelligence.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7464708.post-84575189073642675342012-10-25T11:26:47.530-04:002012-10-25T11:26:47.530-04:001) Low information at the micro/voter does not mea...1) Low information at the micro/voter does not mean that the political system as a whole does not act in a more logical way. Voters que off elites who have skin in the game and who are well informed.<br /><br />Besides the set of politically feasible economic policy alternatives from which we select a policy is determined by some really really smart folks. They may be wrong but they are not dumb.<br /><br />2) Even if all voters were perfectly informed homoeconomicus political outcomes would likely still be irrational or illogical. When preferences are heterogeneous in a policy space almost any method for aggregating preferences will produce illogical outcome.<br /><br />Decisions about how much influence individual preferences have on policy (aka democracy) are one of marginal costs and benefits, not total costs. "Democracy is a bad idea" makes as much sense as "Pollution is a bad idea".politicalEconomistnoreply@blogger.comtag:blogger.com,1999:blog-7464708.post-57043566292140134862012-10-25T10:53:42.776-04:002012-10-25T10:53:42.776-04:00Can you tell me the source of that Churchill quote...Can you tell me the source of that Churchill quote?Anonymousnoreply@blogger.com