t.p. "with a new preface by the author"

Introduction. The paradox of democracy -- ch. 1. Beyond the miracle of aggregation -- ch. 2. Systematically biased beliefs about economics -- ch. 3. Evidence from the survey of Americans and economists on the economy -- ch. 4. Classical public choice and the failure of rational ignorance -- ch. 5. Rational irrationality -- ch. 6. From irrationality to policy -- ch. 7. Irrationality and the supply side of politics -- ch. 8. "Market fundamentalism" versus the religion of democracy -- Conclusion. In praise of the study of folly.

"In this thought-provoking book, economist Bryan Caplan calls into question our most basic assumptions about American politics. Caplan argues that the greatest obstacle to sound economic policy is not special interests or rampant lobbying but rather the popular misconceptions and irrational beliefs held by ordinary voters. Through an analysis of American's voting behavior and opinions on a range of economic issues, Caplan makes a convincing case that voters suffer from four prevailing biases, including a distrust of foreigners and a pessimistic belief that the economy is going from bad to worse. Caplan lays out several bold ways to make democratic government work better - such as letting democracy do less and letting the market do more." From back cover.