Role Inflation

All that lovely free money is just so addictive

German children using billion-mark notes as building-block toys. Image credit: Highbrow

Representative democracy is the system in which cynical incompetents promise ignorant foolish voters free ice-cream forever. By its very nature, representative democracy abjures intelligent responses to exogenous shocks and instead substitutes populist responses that create even worse shocks later. This is because very few voters are both well-informed and…