Advantage Quote by Bryan Caplan

“There are two sources of error: Either you lack sufficient data, or you fail to take advantage of the data that you have.”

Bryan Caplan

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Advantage Data Errors Failing Source Sufficient Two

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“It is irrational to be politically well-informed because the low returns from data simply do not justify their cost in time and other resources.”

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Worldviews are more a mental security blanket than a serious effort to understand the world

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“the ineradicable prejudice that every action intended to serve the profit interest must be anti-social by this fact alone.”27”

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In daily life, reality gives us material incentives to restrain our irrationality. But what incentive do we have to think rationally about politics?

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Sociotropic voters with biased economic beliefs are more likely to produce severe political failures than are selfish voters with rational expectations.

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