>Finished book

>I just realized that I hadn’t updated on completing the book, “The Myth of the Rational Voter”.

The thesis can be better explained as follows:

“People are rational when they have incentives to do so that outweigh the costs. Society (rather than the individual) bears the cost of irrational voting. Individual have deep-seated but comforting prejudices (mentioned earlier: anti-market bias, anti-foreign bias, make-work, pessimism) that are psychologically pleasing to continue by voting for candidates that pledge to fix things with destructive economic policies. Since the individual sees a small psychological benefit to irrational voting and no personal cost, irrational voting is rational. The same person can be perfectly rational when performing market-based tasks like car repair, brain surgery or engineering.”

The book asserts that the effect is real, cites some effects it should have on elected officials, but makes no specific recommendations, other than to reject the rational voter hypothesis.


About perkinsms

I'm an engineer and father interested in transit, parking and economics.
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