The Myth of the Rational Voter, by Bryan Caplan
The Myth of the Rational Voter, by Bryan Caplan.#
Extraordinary insights in this book. The ingenuity and incisiveness of Bryan's blog, but lasting for two hundred pages. It is a pleasure to read, and there are new insights constantly. I would highly recommend the CATO book forum about this book, by the way.#
On preferences over beliefs:#
Suppose your friend thinks he is Napoleon. It is conceivable that he got an improbable coincidence of misleading signals sufficient to convince any of u. But it is awfully suspicious that he embraces the pleasant view that he is a world-historic figure, rather than, say, Napoleon's dishwasher. [p. 119]
The chapters on supply side and market fundamentalism are great.#
On immigrants:#
If an Indian desperately wants to move to the United States but is unable to get a vise, voting to make India more like the United States seems like the next best thing. But there is a crucial difference between the two actions. A migrant who leaves his homeland gives up psychological benefits, such as the belief that his nation is the best in the world, in exchange for a big jump in his material well-being. A voter who turns his back on his nation's political tradition gives up psychological benefits but---since policy is beyond his control---is not a penny richer. [p. 206-207]