> the US poor. > -- To return this thread to it's origins I would like to bring to your attention an article from the June 16, 2007 Economist about how the electorate is irrational. The article cites a book by Bryan Caplan, economics professor at George Mason University titled "The Myth of the Rational Voter". Caplan identifies four biases that "prompt voters" "to demand policies that make them worse off". I'll qoute a paragraph in full:
"First, people do not understand how the pursuit of private profits often yields public benefits: they have an anti-market bias. Second, they underestimate the benfits of interactions with foreigners: they have an anti-foreign bias. Third, they equate prosperity with employment rather than production: Mr Caplan calls this the "make work bias". Finally they tend to think economic conditions are worse than they really are, a bias towards pessimism". The article goes on to point out that few economists believe the economy is damaged by free trade and using the example of better cheaper goods and foreigners entering the country to do jobs that locals won't do point to ways in which free trade makes people better off. Caplan is critical of the Democrats anti free trade stance and the Republicans reluctance to defend George Bush's liberal line on immigration. "For the nation as a whole ... what matters is not whether peole have jobs, but how they do them. The more people produce, the greater the general prosperity. It helps, therefore if people shift from less productive occupations to more productive ones." "Finally, the publics pessimism is evident in its belief that most new jobs tend to be low paying, that our children will be worse off than we are and that society is going to hell in a number of ways. Economists, despite their dismal reputation tend to be cheerier." Americans take for granted things, that in the really poor world would be seen to be the height of luxury, in fact Americans take for granted things that would have been considered outragous luxury by their grand-parents. Graham. _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
