Markets Without Limits, Authors: Jason Brennan, Peter Jaworski.
Against Politics, Author: Jason Brennan.
By Jason Brennan – Who should hold power: the few or the many? Concentrating power in the hands of a few – in monarchy, dictatorship or oligarchy – tends to result in power for personal benefit at the expense of others. Yet in spreading power among the many – as in a democracy – individual votes no longer matter, and so most voters remain ignorant, biased and misinformed.
We have a dilemma.
Republican, representative democracy tries to split the difference. Checks and balances, judicial reviews, bills of rights and elected representatives are all designed to hold leaders accountable to the people while also constraining the foolishness of the ignorant masses. Overall, these institutions work well: in general, people in democracies have the highest standards of living.
But what if we could do better?
The idea here is not that knowledgeable people deserve to rule – of course they don’t – but that the rest of us deserve not to be subjected to incompetently made political decisions. Political decisions are high stakes, and democracies entrust some of these high-stakes decisions to the ignorant and incompetent. more>