The Power Of Bad Ideas

Why are bad ideas and bad policies so persistent? If you’ve ever wondered about this, you will be interested in Bryan Caplan’s Idea Trap. He makes a compelling argument for why there is popular support for bad ideas. While I agree with his logic, I think it is only a partial explanation. People may support bad ideas, but someone has to promote bad ideas – then people can rally behind them. And why would people promote bad ideas? My guess is there is some personal short term relative advantage. That, combined with the human power of self delusion, is enough to abandon reason.

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