“The masses have never thirsted for truth. Whoever can supply them with illusions is easily their master. Whoever attempts to destroy their illusion, is always their victim.”
– The Myth of the Rational Voter
The COVID-19 virus continues to threaten in-person voting for the upcoming election with both sides crying foul over supposed voter fraud and voter suppression. That, however, may be the least of our problems. It turns out voters are woefully uninformed, care little about the truth, and choose their candidates emotionally. The real problem with our present system is the irrationality of the low-information voters. Regardless of what you’ve heard, America is not being ruled from the top down, but from the bottom up. What we perceive as an overreach by the government, is sadly the will of the people.
When the term “low information voter” was coined in 1991, these voters were typically seen as moderates, split-ticket voters, and those less ideological. That is, swing voters who alternate from one party to the other. Today, low-information voters are generally those who are so ideologically driven that they vote straight party tickets, those who are members of special interest groups, or those voting based on who their favorite celebrity is endorsing. Politicians, unfortunately, are rarely any better informed than the voting public. They, too, bring the same biases and misconceptions. But politicians like their low-information constituents, it makes it easier to dismiss them in favor of lobbyists and donors, who bring gifts of money and power.
In a 2020 Gallup poll of voters, respondents sorted themselves as 31 percent Democrat, 30 percent Republican, and 36 percent Independent. When asked if they lean right or left, the results show a deadlock with 46 percent of respondents leaning right, and the other 46 percent leaning left. While Republicans remain more conservative than moderate, Democrats are seeing a steep trend toward more progressive politics, leaving centrism behind. Third-party options like Libertarians or the Green Party are inconsequential. That said, nearly half of all eligible voters remain politically disenfranchised and simply refuse to vote. Yet, choosing to opt out of the political process may not be as foolish as some think.
Rational ignorance is when the cost of acquiring knowledge exceeds the benefit of that knowledge. And when it comes to voting, one vote has little impact. Voting has become a largely symbolic gesture that does little to affect the outcome of a race. What used to be seen as a patriotic duty, is increasingly irrelevant. Add to that, the little differences that truly exist between how the parties govern, and your vote has now become the lesser of two evils. Little is accomplished through voting, and many are finding it better to focus their time and energy on effecting change outside the political apparatus.
In Bryan Caplan’s 2007 book, “The Myth of the Rational Voter”, Caplan reminds us that both the uninformed and the informed each receive an equal vote – one person one vote. But more than uninformed, voters are illogical, ignorant of basic economics and politics, and vote emotionally rather than rationally. Caplan also shows why voters have little to gain by taking the time to become knowledgeable about issues and candidates. And how markets, once understood, are a far better alternative to the political process.
Unfortunately, there is a constant drumbeat from the media and academia about the profits and motives of businesses against their workers. There is little understanding of how the self-interest of a business owner can benefit the public. And how competition actually tames the notion that business exists to exploit workers and keep profits high. These misconceptions affect voting decisions that produce bad policies. And bad policies hurt everyone, not just the ignorant voter. While the benefits of markets are greatly unappreciated, the benefits of government are greatly exaggerated.
The economy is considerably affected by political decisions. Correcting these chronic myths and returning to a greater reliance on private markets is the first step. The less power we permit in Washington, the less incentive there will be to spend time and money acquiring that power. In Larry Norman’s “The Great American Novel”, Norman sings: “The politicians all make speeches while the newsmen all take notes, and they exaggerate the issues as they shove them down our throats; Is it really up to them whether this country sinks or floats? Well, I wonder who would lead us if none of us would vote.” Well, that would likely be those who aren’t pinning all their hopes on the November election.
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