Monday, November 24, 2014

Behavioral Political Economy

The "Grumpy Economist" remarks:

"I have long been puzzled at the high correlation between behavioral economics and interventionism."

He goes on in some detail. I think there's a lot to what he says.

If people are predictably dumb,
do not expect a solution to come,
from other people we've put in charge;
their errors tend to be just as large.

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