So, one of the primary theories in Public Choice Economics is the Median Voter Theory. Basically, this says that politicians will move toward the center in an attempt to garner votes. In the past this has typically meant that hard-left politicians moved away from socialist ideas. However, this entire election cycle I have been struck with the realization and fact that this has not in fact happened. Sure, the candidates have moved toward the center on certain, key, issues, but overall they have taken great pains to be very far apart. In fact, the Democrat as even taken great pains to proclaim his allegiance to socialist ideals on many occasions.
This doesn't mean that MVT is dead, but rather I think it means that the American electorate is deeply divided. Yeah, I know, big surprise. But it also means problems for stability and business climate. See, businesses and investors like stability. They like knowing what to expect. But having such a close election and two candidates saying and planning such very different things is the antithesis of stability.
Interesting.
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