Caplan Notes 3/29, Pub Choice II

Official course notes reference. Related: My proof of markets as an optimal voting system. Important note: His version of ‘expressive voting’ is not the same as the concept (of the same label) which I learned in undergrad from Jonathan Slapin. Caplan’s expressive voting means non-instrumental voting, while Slapin’s expressive voting means voting in a way … Read more Caplan Notes 3/29, Pub Choice II

Markets as Optimal Voting Systems

This article demonstrates that markets are an optimized voting system. I argue: Markets maximize corrected voter expression Markets solve Arrow’s Impossibility Theorem Further evidence economics is politics and vice versa. To have an optimal political system we need to have an optimal voting system. Such a system will: Allow voters to precisely express their desires. … Read more Markets as Optimal Voting Systems