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Bryan Caplan

How Can Economists Change the World?

Sina Odugbemi's picture

Economists dominate international development, and, in the case of the World Bank, well, that is an instance of full spectrum dominance. In an article in Public Choice (2010) 142:1-8, titled 'Persuasion, slack, and traps: how can economists change the world?', Bryan Caplan has some bad news as well as some good news.

The bad news is a restatement of the argument of his The Myth of the Rational Voter (Caplan 2007): "I argue that economically inefficient policies survive by popular demand. The public systematically misunderstands economics - and probably many other policy relevant subjects - leading voters to support policies contrary to their best interests. I also  maintain that the public's misconceptions are, in a sense, wilful. Most people embrace political and economic beliefs on the basis of their emotional appeal, not dispassionate analysis."