Ep. 563 Clueless Voters and Self-Interested So-Called Public Servants: How Public Choice Economics Upends the Cute Fantasies About How the System Really Works

Why are political campaigns based on dumbed-down slogans, instead of the rational deliberation our textbooks taught us was the basis of the system? Why is it that tiny minorities manage to get lucrative subsidies in a system supposedly based on the popular will? Why are voters uninformed -- and why do they have an incentive to be? Public Choice economics can help us understand these phenomena better, and that's our topic for today.