• "Well written, well researched, and the thesis put forth is well argued.... Woods has opened up an area of historical analysis that should invite further study."
    -Journal of American History

  • "During these times that challenge our freedoms there is no one more qualified to make U.S. history relevant to the fight against big government than Thomas Woods."
    -Barry Goldwater Jr.
    Former Member of Congress

  • "I strongly recommend Woods's work."
    -The Honorable Ron Paul,
    U.S. House of Representatives

  • "Written with great clarity and fluency, making the complex philosophical and theological concepts approachable."
    -Journal of American Studies

  • "A must-read."
    -Barron's

  • "An excellent reading source for anyone interested in financial markets, and much more so for anyone interested in learning about capitalism without all the misinterpretations being thrown about in the financial media."
    -Asia Times

  • "Provocative, well-written, and deserves to be read."
    -Catholic Historical Review

  • "An engaging and important contribution to scholarship on the history of American Catholicism."
    -Journal of the Historical Society

  • "Woods and [co-author Kevin] Gutzman appeal to both left and right in this constitutionalist jeremiad…. The authors' exegeses of the Constitution and court decisions, heavy on original intent arguments, are lucid and telling."
    -Publishers Weekly

  • "A marvelous read. Every chapter taught me something new and unexpected."
    -Tom Bethell, senior editor,
    The American Spectator

  • "The hottest book today is Meltdown, by my friend Tom Woods."
    -Judge Andrew Napolitano, senior judicial analyst,
    FOX News Channel

  • "Should be required reading."
    -Economic Affairs (London)

  • "Woods, one of the best classical liberal [libertarian] scholars of his generation, has once more placed us in his debt with this lucid and tightly argued book."
    -David Gordon, The Mises Review

  • "Tom Woods is one of my dearest allies in the struggle against wrong-headed and dangerous economic policy."
    -Peter Schiff

If You Think Voters Are Clueless…

…you don’t know the half of it, concludes a new study in the American Political Science Review. Voter biases of various kinds, the study finds, impede their ability to evaluate the performance of politicians dispassionately.

In a series of experiments, researchers from Yale, UC San Diego, and UC Berkeley found that voters “are susceptible to these biases even when given financial incentives to behave otherwise and when the information necessary to avoid these biases was readily available.”

According to the abstract:

In this article, we show that these biases in retrospective evaluations occur even in the simplified setting of experimental games. In three experiments, our participants (1) overweighted recent relative to overall incumbent performance when made aware of an election closer rather than more distant from that event, (2) allowed an unrelated lottery that affected their welfare to influence their choices, and (3) were influenced by rhetoric to give more weight to recent rather than overall incumbent performance. These biases were apparent even though we informed and incentivized respondents to weight all performance equally.

Cambridge University Press, which publishes the American Political Science Review, summarized the study’s findings about voters this way: “They tended to punish or reward the incumbent based on whether or not they had won or lost a lottery, and gave greater weight to earnings closer to the election when they learned about the election closer to it or after certain rhetorical statements. They persisted in this irrational behavior even when it was made clear to them that their fictional incumbent had had nothing to do with the lottery and that events closer to the election were no more informative of the incumbent’s true performance than events further from the election.” (Emphasis added.)

The article itself is, unfortunately, behind a subscription wall.

Unlearn the Propaganda!

  • John Campbell

    Politics is simply an irrational game from start to finish. Giving up your sovereignty to a body with unlimited power and the ability to make up the rules of the game as they go along is crazy.

    Such a study into the irrationality of voters, implies that government might be a sensible idea – you may just have to tweak the system or change the rules for voting and for voters. Or better yet – just do away with voting – our rulers know what’s best without having to pander to those irrational voters.

    Nope – the study is a waste of time – like trying to find safer ways to juggle chainsaws. How can you rationally chose a ruling class to run the state? And our lives? I don’t think you can. This study seems to imply the opposite – the dangerous notion that the problem with the system may be those crazy voters. No – its the system itself that is irrational – root and branch.

  • Nate

    I’m Reminded of the Larken Rose Video “Ya Gotta Vote!” Where he states all sorts of snarky things like…”Worried that you’re uninformed and know nothing about the candidates? Who cares! it doesn’t matter what empty suit puppet you support, What matters is that you continue to legitimize your own subjugation and enslavement by playing the game!”

  • Anonymous

    I totally agree, but what is the alternative? Not vote, knowing these irrational morons are going to pick the Santa Clause most likely to shimmy down their chimney with goodies paid for by piles of pennies pilfered from my pockets?

    I think the more rational approach is to get in the game, at the primary level, either finding and backing a trustworthy Ron Paul type, or running for office yourself. Not wanting to rule others is a good measure of qualification for office, one severely lacking in government.