Summary of The Myth of the Rational Voter: Why Democracies Choose Bad Policies – Bryan Caplan

Beyond the Miracle of Aggregation
Politicians and educators alike have long mourned voter ignorance. Some theorists have tried to explain how the effect of ignorant voters in a democracy is mitigated by the “Miracle of Aggregation,” where the wisdom of informed voters cancels out the ignorance of others. To explain briefly, if an electorate is 100% uninformed votes randomly on a candidate, the outcome is split fifty-fifty. If only 1% of the voters are well informed, chance dictates that the candidates receive half of the uninformed votes, or 49.5%, which leaves the remaining 1% of the informed voters that candidates must vie for, and who will determine the election.

cancels out the ignorance of others. To explain briefly, if an electorate is 100% uninformed votes randomly on a candidate, the outcome is split fifty-fifty. If only 1% of the voters are well informed, chance dictates that the candidates receive half of the uninformed votes, or 49.5%, which leaves the remaining 1% of the informed voters that candidates m