According to David Boaz, executive vice president of the Cato Institute, libertarianism is the application of science and reason to the study of politics and public policy. By focusing on the actual effects of policies, libertarians understand that intentions do not equal outcomes. As such, libertarians understand that private property, free markets, and tolerance are […]
Prof. Bryan Caplan discusses his controversial book, The Myth of the Rational Voter: Why Democracies Choose Bad Policies. His thesis is that a majority of voters err in their thinking on economics issues, and that these errors can be grouped under 4 different irrational biases, which Caplan calls the make-work bias, the anti-foreign bias, the […]