Why am I passionate about this?
I am an economics professor and have been interested in applying economic methods to study political decision-making since my days as a graduate student. Too often, we think about government in terms of what we would like government to do rather than what government actually is capable of doing. In many cases, political decision-makers would be unable to obtain sufficient information to actually carry out the policies we think would be ideal, and even if they have the information, often they don’t have the incentive to do so. An economic approach to politics offers a more realistic way to understand political decision-making.
Randall's book list on voter preferences and democratic decision-making
Why did Randall love this book?
Downs does a great job of explaining how democratic decision-making links voter preferences to public policy outcomes. He looks at political preferences as existing on a left-to-right continuum and concludes that democratic elections tend to select the candidates whose preferences most closely reflect the median voter—the voter whose preferences fall in the middle of that left-right continuum. He offers a few caveats, one being that because one vote has a vanishingly small chance to affect an election outcome, voters tend to be rationally ignorant on political matters. There is no payoff to becoming informed because an election outcome will be the same regardless of how any individual voter votes.
1 author picked An Economic Theory of Democracy as one of their favorite books, and they share why you should read it.
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