The Myth of the Rational Voter: Why Democracies Choose Bad Policies | 
 enlarge | Author: Bryan Caplan
Publisher: Princeton University Press
Category: Book
List Price: $29.95
Buy New: $17.00
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Avg. Customer Rating:  36 reviews
Sales Rank: 172873
Media: Hardcover
Number Of Items: 1
Pages: 280
Shipping Weight (lbs): 1.2
Dimensions (in): 9.4 x 6.3 x 1.1
ISBN: 0691129428
Dewey Decimal Number: 320.6
EAN: 9780691129426
ASIN: 0691129428
Publication Date: April 16, 2007
Availability: Usually ships in 1-2 business days
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Product Description
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 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 biases or else pretend to, resulting in bad policies winning again and again by popular demand. Boldly 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: they underestimate the wisdom of the market mechanism, distrust foreigners, undervalue the benefits of conserving labor, and pessimistically believe the economy is going from bad to worse. 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 election season drawing nearer, this thought-provoking book is sure to spark a long-overdue reappraisal of our elective system.
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| Customer Reviews: Read 31 more reviews...
 This is the worst use of paper and ink I've ever seen July 13, 2008
2 out of 5 found this review helpful
Okay, all hyperbole aside, Dr. Caplan raises some excellent points, but everything he raises has been said before, critiqued before, and thoroughly proven and/pr dis proven over years of debate. It's almost as if he cut, copy, pasted Thomas Friedman's political economic rants and those have been debated ad-nauseum in most intellectual circles. The truth is, he has a somewhat different approach to the same ideas but in the end it just comes off as parroting, and ultimately the read is a waste of time.
This is Why I am Not a Libertarian July 13, 2008
2 out of 8 found this review helpful
In many ways, libertarian ideas have been winning in America. Oh, you wouldn't know it from reading the leading lights of libertarian dogma. There's always someone out there trying to turn your community into a police state or destroy your hopes of prosperity. But for the most part, free-trade ideology has been winning.
And people aren't happy about it.
This has absolutely nothing to do with free-trade being a flawed, or at the very least questionable, economic policy. No, it's because voters are stupid.
Thus, the thinking patterns of libertarians are pretty much the same as those of liberals.
A. Your disagree with me.
B. Your disagreement isn't really a disagreement, but a symptom of your stupidity.
This book simply ignores the many RATIONAL arguments against unfettered immigration and unrestrained free-trade. Gas prices, for example, are skyrocketing due to increased demand from China. Why is there more demand in China? Because we are buying so many of their exports, they are getting wealthier and more capable of energy consumption.
So gas prices are going through the roof.
Is this an "irrational" concern?
Hardly.
The argument may or may not be flawed, but it isn't irrational.
 Essential reading for anyone who wants to understand government and politics May 16, 2008
3 out of 3 found this review helpful
The conclusion:
1. Accept that a fair democracy will still make bad mistakes
2. Improve public education, especially when it comes to teaching economics
3. Teach your friends, family, acquaintances how the economy works
Great book with many brilliant points May 2, 2008
3 out of 4 found this review helpful
This book does a great job approaching irrationality in microeconomic terms and applying it to everyday situations. I'd strongly recommend this to anyone who is interested in the economics of market situations.
Well.... April 20, 2008
1 out of 11 found this review helpful
Applying economics to politics has always interested me, but this author failed miserably at it. He talks way too much about economists and how they are perfect and skips the interesting topics.
Miracle of aggregation and supply and demand politics peaked my interest, but he just skimmed over them.
The polls he give about opinions from "smart" people and dumb people are really sketchy in my opinion and not worth it.
All in all, very interesting thesis, very boring book.
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