10% Less Democracy: Why You Should Trust Elites a Little More and the Masses a Little Less

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Garett Jones

10% Less Democracy

Why You Should Trust Elites a Little More and the Masses a Little Less

Garett Jones

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English

STANFORD UNI PRESS
04 February 2020

Politics & government; Political structure & processes; Central government policies; Economics

"During the 2016 presidential election, both Donald Trump and Bernie Sanders argued that elites were hurting the economy. But, drawing together evidence and theory from across economics, political science, and even finance, Garett Jones says otherwise. In 10% Less Democracy, he makes the case that the richest, most democratic nations would be better off if they slightly reduced accountability to the voting public, turning up the dial on elite influence.

To do this, Jones builds on three foundational lines of evidence in areas where he has personal experience. First, as a former staffer in the U.S. Senate, he saw how senators voted differently as elections grew closer. Second, as a macroeconomist, Jones knows the merits of ""independent"" central banks, which sit apart from the political process and are controlled by powerful insiders. The consensus of the field is that this detached, technocratic approach has worked far better than more political and democratic banking systems. Third, his previous research on the effects of cognitive skills on political, social, and economic systems revealed many ways in which well-informed voters improve government.

Discerning repeated patterns, Jones draws out practical suggestions for fine-tuning, focusing on the length of political terms, the independence of government agencies, the weight that voting systems give to the more-educated, and the value of listening more closely to a group of farsighted stakeholders with real skin in the game-a nation's sovereign bondholders. Accessible to political news junkies while firmly rooted and rigorous, 10% Less Democracy will fuel the national conversation about what optimal government looks like."

By: Garett Jones
Imprint: STANFORD UNI PRESS
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm,
ISBN: 9781503603578
ISBN 10: 1503603571
Pages: 248
Publication Date: 04 February 2020
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

"Introduction: The Source of My Idea 1. The Big Benefits of a Small Dose of Democracy 2. Braver Politician 3. Central Bank ""Independence"" 4. The 2% Solution 5. This Chapter Does Not Apply to Your Country 6. Bondholders as a Separate and Coequal Branch of Government 7. Jonathan Rauch, Prophet of Political Realism 8. The Hard Case of the European Union 9. Singapore: Flourishing with 50% Less Democracy 10. Conclusion: Buying the Right Dose of Democracy"

Garett Jones is Associate Professor of Economics at the Center for Study of Public Choice, George Mason University. He also holds the BB&T Professorship for the Study of Capitalism at the Mercatus Center. Garett's research and commentary have appeared in the New York Times, the Wall Street Journal, the Washington Post, Forbes, and Businessweek. His first book, Hive Mind: How Your Nation's IQ Matters So Much More Than Your Own (Stanford, 2015) was a Gold Medalist in the 2016 Independent Publisher Book Awards.

Reviews for 10% Less Democracy: Why You Should Trust Elites a Little More and the Masses a Little Less

10% Less Democracy is a joy to read. If you liked Freakonomics or Predictably Irrational, you'll love this book. It deserves to be read widely, widely discussed-and acted upon. A tour de force combining the best economic insight with real-world, practical applications. Every chapter demonstrates ways in which reducing democratic control over certain decisions reliably results in better outcomes for all. We should jettison our religious attachment to democracy and see it for what it is: a tool good only in moderation. -- Jason Brennan, author of <i>Cracks in the Ivory Tower</i> How can we rescue democracy from the slough of despond into which it has fallen? In this lucidly written book, Garett Jones makes the case for a surprising answer: the best way to improve democracy is to have a bit less of it. It's only by handing power to technical experts, lengthening congressional terms, staggering elections, and reducing direct democracy that we can save the invaluable core of democracy from self-destruction. -- Adrian Wooldridge * co-author of <i>Capitalism in America: An Economic History</i> *