Every Flaw in Consumers Is Worse in Voters - Michael Munger
So what’s the mistake I’ve been making for most of my life? I’ve been trying to defend the perfection of markets. I’ve been sucked in to the notion that markets are “ideal”: “Markets aren’t so bad!” “Consumers are generally better off!” and so on. Friends, if you have been defending the perfection of markets you have been played for a sap. Stop it.