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Rejoinder to Wittman: True Myths

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  • Bryan Caplan

Abstract

WITTMAN HAS WRITTEN A CHARACTERISTICALLY ENGAGING response to my critique. While he emphasizes his continued disagreement with me, I am struck by the important concessions he makes. In particular, he has virtually abandoned the rational expectations assumption that drives his trademark results. This retreat has a high price, because his new watered-down standards of rationality are consistent with vast democratic inefficiency. Apparently, democratic failure is not a myth after all.

Suggested Citation

  • Bryan Caplan, 2005. "Rejoinder to Wittman: True Myths," Econ Journal Watch, Econ Journal Watch, vol. 2(2), pages 165-185, August.
    • Handle: RePEc:ejw:journl:v:2:y:2005:i:2:p:165-185
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    References listed on IDEAS

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    1. Robert J. Blendon, 1997. "Bridging the Gap between the Public's and Economists' Views of the Economy," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 105-118, Summer.
    2. Fiorina, Morris P. & Noll, Roger G., 1978. "Voters, bureaucrats and legislators : A rational choice perspective on the growth of bureaucracy," Journal of Public Economics, Elsevier, vol. 9(2), pages 239-254, April.
    3. Friedman, Daniel, 1998. "Monty Hall's Three Doors: Construction and Deconstruction of a Choice Anomaly," American Economic Review, American Economic Association, vol. 88(4), pages 933-946, September.
    4. Bryan Caplan, 2002. "Systematically Biased Beliefs About Economics: Robust Evidence of Judgemental Anomalies from the Survey of Americans and Economists on the Economy," Economic Journal, Royal Economic Society, vol. 112(479), pages 433-458, April.
    5. Bryan Caplan, 2002. "Sociotropes, Systematic Bias, and Political Failure: Reflections on the Survey of Americans and Economists on the Economy," Social Science Quarterly, Southwestern Social Science Association, vol. 83(2), pages 416-435, June.
    6. Donald Wittman, 2005. "Reply to Caplan: On the Methodology of Testing for Voter Irrationality," Econ Journal Watch, Econ Journal Watch, vol. 2(1), pages 22-31, April.
    7. Bryan Caplan, 2005. "From Friedman to Wittman: The Transformation of Chicago Political Economy," Econ Journal Watch, Econ Journal Watch, vol. 2(1), pages 1-21, April.
    8. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1395-1424, December.
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    Cited by:

    1. Donald Wittman, 2005. "Second Reply to Caplan: The Power and the Glory of the Median Voter," Econ Journal Watch, Econ Journal Watch, vol. 2(2), pages 186-195, August.
    2. Anthony Evans, 2014. "A subjectivist’s solution to the limits of public choice," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(1), pages 23-44, March.
    3. José Jorge Gabriel Júnior, 2011. "Democracia E Racionalidade Do Eleitor:Evidências Dos Pleitos Estaduais," Anais do XXXVIII Encontro Nacional de Economia [Proceedings of the 38th Brazilian Economics Meeting] 066, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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