Quote of the Day: Myth of the Rational Voter

Public outrage is an unreliable mechanism for regulating government because the incentives to be accurately informed about public affairs are so weak. Voters often support policies that are based on faulty economic logic. The task of being well-informed about the relative costs of public policy is beyond human capabilities anyway. Since neither the public nor politicians can be vigilant regarding modern bureaucracies, the only "solution" to these problems is to restrain bureaucrats with rigid rules.

That’s from D.W. MacKenzie at the Mises.org