Wednesday, 20 January 2010

Myths

Bryan Caplan surely had bad luck with the timing of his book "The Myth of the Rational Voter", which argues that voters are irrational because they don't think like economists, and that we should trust markets relatively more. (I am caricaturing.) It came out in April 2007. Two years later, economists' credibility has been battered, and the policy of trust in markets has got as much legs as a paraplegic snail. A shame, because he has some interesting points.