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The Rise and Fall of the College Graduate Wage Premium http://www.nber.org/digest/jan08/w12984.html one of the reasons why college costs may be increasing http://www.slowpokecomics.com/strips/marketcult.html http://curiouscapitalist.blogs.time.com/2009/01/02/tyler-cowen-statist-anti-rothbardian-agent-of-the-kochtopus/ But the Koch brothers’ aims aren’t so low. They have been and will continue to try and shape the dominant political culture – to make it more corporate-friendly, more conservative, and more solicitous of their ideas. From the media to Congress, their goal is to ensure a full airing of their messages and a locking out of anyone else’s. They don’t play a game of election to election; they play a longer game. And even when their politicians fail and the Democrats get into power, they feel they can still win even when losing. The trajectory of what passes for “progressive” and “conservative” in the last 30 years should prove their success. [http://www.bostonreview.net/BR36.2/glennerster_kremer_behavioral_economics_global_development.php Small Changes, Big Results For The World's Poor - Boston Review] It is important to note that cost savings come from creating competition rather than from privatization per se–substituting a private monopoly for a public one is not very helpful but creating and maintaining a competitive environment can work wonders. [http://marginalrevolution.com/marginalrevolution/2011/03/trash-talk.html Alex Tabarrok] Can financial sector profits create deadweight losses the way taxation does? http://blogs.reuters.com/felix-salmon/2011/03/30/chart-of-the-day-us-financial-profits/ http://www.eea-esem.com/files/papers/EEA-ESEM/2009/1277/Bis-Sie_party-competition_10.pdf http://www.sas.upenn.edu/ppe/documents/Landemore_DemocraticReason_Article_Version_for_UPenn.pdf http://www.smartdemocracy.com/papers/landemore_democratic_reason.2008.pdf "Adrian Vermeule (REF this volume) and others consider the CJT a mere variant of the Miracle of Aggregation. This might well be the case (in which case the CJT would probably correspond to what I call the “democratic” version of the miracle of aggregation) but to the extent that the relevant literature still treats them separately, I will address each account as autonomous. " http://www.cato-unbound.org/2006/11/16/bryan-caplan/reply-to-my-critics/ "There are plenty of areas where the Miracle of Aggregation probably works as advertised." http://www.cato-unbound.org/2006/11/06/bryan-caplan/the-myth-of-the-rational-voter/ "Do voters know what they’re doing? According to the typical economist — and many political scientists — the answer is “No, but it doesn’t matter.” How could it not matter? The main argument is that the public’s errors cancel out.[1]" See Wittman to see if that is the main argument. It can't be, because information theory says we cannot represent all the information in one bit. Thus, Caplan is entirely mistaken in his thesis. The real answer is that there is a feedback loop, with voting as the amplifier. This makes politicians move towards positions desired by voters. Some may want to characterize those positions as correct, but the real answer is that there is no blatant incorrectness to the voters perceptions.
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