In a modern democracy, not only can a libertarian be elitist; a libertarian has to be elitist. To be a libertarian in a modern democracy is to say that nearly 300 million Americans are wrong, and a handful of nay-sayers are right.

In a modern democracy, not only can a libertarian be elitist; a libertarian has to be elitist. To be a libertarian in a modern democracy is to say that nearly 300 million Americans are wrong, and a handful of nay-sayers are right.

The best social insurance is to make more progress, not to make more work

In daily life, reality gives us material incentives to restrain our irrationality. But what incentive do we have to think rationally about politics?

There are two sources of error: Either you lack sufficient data, or you fail to take advantage of the data that you have.

Worldviews are more a mental security blanket than a serious effort to understand the world

Sociotropic voters with biased economic beliefs are more likely to produce severe political failures than are selfish voters with rational expectations.