Thursday, September 27, 2007

Reason On Economic Biases

The Reason Magazine article on “The 4 Boneheaded Biases of Stupid Voters” is one of these lengthy concise overviews of the complexities of big complex subjects. In this case, economics and the public understanding of economics. I do like this one little tidbit. It’s cute.

(And we're all stupid voters.) “There are two technologies for producing automobiles in America. One is to manufacture them in Detroit, and the other is to grow them in Iowa. Everybody knows about the first technology; let me tell you about the second. First you plant seeds, which are the raw materials from which automobiles are constructed. You wait a few months until wheat appears. Then you harvest the wheat, load it onto ships, and sail the ships westward into the Pacific Ocean. After a few months, the ships reappear with Toyotas on them.”

Of course, being a stupid voter, I always assumed Toyotas came from Kentucky and Indiana.