Leo Martins' Daily Rant
RSSIn democracy, if the median voter is a fool, everyone has to live under foolish policies. The great redeeming feature of markets is that anyone who figures out that, say, organic food is a waste of money can immediately stop wasting his money. This is far from a perfect system. But democracy, unlike markets, adds injury to insult. In the market, the rationalist suffers fools. In democracy, the rationalist doesn’t just suffer fools. He obeys them. Or else.
- Market Failure: The Case of Organic Food, Bryan Caplan | EconLog | Library of Economics and Liberty
About Leo Martins' Daily Rant
Rants and comments at random. What I`m reading while I wait for my program to compile...
More info about me. And here is some more.
Disclaimer: This blog is not affiliated in any form to my employers, and all opinions presented here are my own. This blog is actually a fancy bookmark, so I can't guarantee even the opinions that appear to be mine.
Copyright: There are no original works of mine here, I use this blog mostly to collect links to articles with brief quotes. Therefore to understand the licensing of the post you should follow the link. The only rule here is to always accredit the source with a link.
In the unlikely case where I do write something here, it will be under the Creative Commons Attribution-ShareAlike 3.0 Unported License.
More info about me. And here is some more.
Disclaimer: This blog is not affiliated in any form to my employers, and all opinions presented here are my own. This blog is actually a fancy bookmark, so I can't guarantee even the opinions that appear to be mine.
Copyright: There are no original works of mine here, I use this blog mostly to collect links to articles with brief quotes. Therefore to understand the licensing of the post you should follow the link. The only rule here is to always accredit the source with a link.
In the unlikely case where I do write something here, it will be under the Creative Commons Attribution-ShareAlike 3.0 Unported License.
