Saturday, May 11, 2013

Constitutional Republic

America is a Constitutional Republic. Democracy is a folly, the Founders thought, because of the Tyranny of the Majority. It is also why there are two legislative bodies in America, so as to also counteract the Tyranny of the Minority.

The people know less what to do with each other as a group than the politicians. Individuals make the best decisions for just themselves. In short, the sum of individual decisions is greater than the sum of its parts.

The great debate of the 20th century:  Individualism vs. Collectivism. The latter lost. Certain people need to get over that. There are over 80 million who can't because they were sacrificed at the alter of collectivism in the 20th century alone.

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

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