The Politics of Regulators

Bryan Caplan is a professor of economics at George Mason University and the author of several books, including Open Borders - The Science and Ethics of Immigration, The Case Against Education and the Myth of the Rational Voter.

Bryan is one of the most iconoclastic contemporary thinkers, and had a major influence on the themes of this podcast. His books explain much of the emergent incentives created by the political process that stymie economic growth.

In this episode, we talk about his new book "Voters as Mad Scientists - Essays on Political Rationality" and use it as a starter to talk about a variety of topics:

• Bryan on how the alignment of "Chaotic Good" in the world of Dungeons & Dragons (D&D) fits his non-conformist style of thinking and practice of breaking bad or unethical laws, as long as you can get away with it

• Why voters love to hate business and how the Stockholm Syndrome can help explain it: people like to ally with the powerful, even if they're rich, against rich people or business with less or no political power to hurt them

• The politics of what sounds good vs. what is good - explained by social desirability bias, exposed by revealed preferences ("actions speak louder than words") and cemented into practice by status quo bias

• Bryan admits that he's been wrong about cryptocurrency and Bitcoin: F. A. Hayek's idea of de-nationalizing banking has won the day against all odds

If you're a regular listener to this podcast, you'll chuckle when Bryan compares how someone telling him about Bitcoin for the first time with someone telling him about starting a new country on an island (Prospera is not literally a country though).

If starting a new jurisdiction with better laws sounds like a crazy but great idea to you, and your D&D alignment is Lawful-Neutral, Neutral-Good or Chaotic-Good, then come check it out and help us build it - the schedule for coming events is here.

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