Irrational Politics and Free Trade

Bryan Caplan talked about reasons why the idea of free trade is distrusted by voters in spite of a consensus among academic economists. He argued that voter irrationality is part of democracy and that it is marked by four biases which distinguish the beliefs of economists from the beliefs of others. He said that rational consumers often make irrational voters, politicians often foment that irrationality, and it has had a major effect on American foreign policy. He was joined in discussion by Philip Levy. Mr. Kane moderated, and all three men responded to audience members' questions.

Bryan Caplan is the author of The Myth of the Rational Voter: Why Democracies Choose Bad Policies, published by Princeton University Press. close