Difference between revisions of "Notes"

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http://www.cato-unbound.org/2006/11/16/bryan-caplan/reply-to-my-critics/
 
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."
 
"There are plenty of areas where the Miracle of Aggregation probably works as advertised."
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http://www.cato-unbound.org/2006/11/06/bryan-caplan/the-myth-of-the-rational-voter/
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"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]"
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See Wittman to see if that is the main argument.
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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.

Revision as of 12:51, 1 April 2011