Saturday, May 19, 2012


Kori Schake offers a succinct summary of polcies being pursued by Greece's new leaders. Give us more or we default. This may not play well with German voters, but it does tickle just enough Greek voters.

Bryan Caplan had it right when he wrote The Myth of the Rational Voter: Why Democracies Choose Bad Policies.

Rational ignorance had been an appealing idea. It makes economic sense that those without a direct stake in ballot issues, either do not vote or they vote on spurious grounds. Wrong. Most voters stay and retain emotional attachments to silly platforms.  Caplan shows that the individual's calculus comes down to sticking with bad ideas.  He surely got it right.