
In this article from The Economist, Lexington explains how most voters are incredibly ignorant when it comes to most issues. Even if voters are generally ignorant about the great majority of issues, this shouldn’t be a problem. That is precisely why we have a representative democracy — so that someone else can do the thinking, studying and evaluating for us. Nevertheless, voters are also irrational because the political issues upon which they base their votes, if implemented, actually go against their interests.
[There are] four biases that prompt voters systematically to demand policies that make them worse off. First, people do not understand how the pursuit of private profits often yields public benefits: they have an anti-market bias. Second, they underestimate the benefits of interactions with foreigners: they have an anti-foreign bias. Third, they equate prosperity with employment rather than production: Mr Caplan calls this the “make-work bias”. Finally, they tend to think economic conditions are worse than they are, a bias towards pessimism.
In other words, voter ignorance is not a problem in itself. The problem lies in the fact that voters’ irrationality causes them to elect politicians who will ultimately promote policies that will negatively affect the voters. And worst of all, the voters will never understand that it is their own idiocy that eventually causes them harm.
In any event, here is The Economist article in full: Continue reading →