GMU Econ Society

Thursday, November 5, 2009

Dan Mitchell: Consequences of Big Government

Read more! Check out these two videos on the consequences of big government presented by Dan Mitchell from the Cato Institute:

Saturday, October 24, 2009

Lawrence W. Reed: Great Myths of the Great Depression

Read more! Greetings,

Please join us in the third installment of our Economic Liberty Lecture Series with Lawrence W. Reed on "The Great Myths of the Great Depression." Below are the details:

Dinner, Lecture, and Social Hour

DATE: November 2, 2009 – Monday
PLACE: George Mason University - Johnson Center Cinema

5:30 pm – Pizza
6:00 pm – Talk with Q&A
8:00 pm – Social hour at Brion's Grille
ADMISSION: FREE

SPEAKER: Lawrence W. Reed

Lawrence W. Reed is President of The Foundation for Economic Education and president emeritus of The Mackinac Center. He holds a B.A. degree in economics from Grove City College and M.A. degree in history from Slippery Rock State University. He taught economics at Midland's Northwood University from 1977 to 1984 and chaired the Department of Economics from 1982 to 1984. His articles have appeared in The Wall Street Journal, Christian Science Monitor, USA Today, Baltimore Sun, Detroit News, and Detroit Free Press among many others. His most recent book is Striking the Root: Essays on Liberty.

Social Hour:
Come join us at a social hour at Brion's Grille in Fairfax, Virginia, right next to George Mason University - 10621 Braddock Road, Fairfax, VA 22030 (703) 352-7272

Presented by:

GMU Econ Society
www.gmueconsociety.blogspot.com

The Future of Freedom Foundation
www.fff.org fff@fff.org (703) 934-6101

Directions:
George Mason University, 4400 University Drive, Fairfax, VA.

Visitors should park in the Mason Pond Parking Deck off Mason Pond Dr. The Johnson Center is off of the third level.

Cost is $2 per hour; $8 max per day. All Parking Inquiries: (703) 993-2710.

Questions? Email us!
gmueconsociety@gmail.com

Saturday, October 17, 2009

What Drives the Economy? C, I, or G?

Read more! The GMU Economics Society invites you to join a lecture, lunch, and discussion with Dr. Mark Skousen on Friday, October 23rd at 12pm in the JC Meeting Room "A."

"What Drives the Economy: C, I or G?" What will it take to get the economy going again? Is the key renewed consumer spending, government spending, or business hiring workers and investing in new capital? Dr. Mark Skousen, former Columbia University professor, addresses this fundamental debate, and demonstrates the surprisingly evidence that consumption is the effect, not the cause, of prosperity, and the popular idea that consumer spending accounts for 70% of the nation's economy and is a leading economic indicator is largely a myth.

Be sure to join the GMU Economics Society in this lecture & free lunch.

Check out the facebook event for more details:http://www.facebook.com/inbox/readmessage.php?t=1256027046445&f=1&e=-12#/event.php?eid=168420370888&ref=mf

----
Mark Skousen (Ph. D., George Washington University) has a unique background of having worked in four areas of the economy: He has taught in the academic world (Columbia Business School, Barnard College, Mercy College, and Rollins College); worked for the government (the CIA in the early 1970s); run a non-profit organization (FEE, the oldest free-market think tank); and operated several successful businesses (publishing and FreedomFest, his annual show in Las Vegas). Currently he teaches a special course in economics at Sing Sing penitentiary. Since 1980, he has been editor in chief of Forecasts & Strategies, an award-winning investment newsletter, and editor of three trading services. He has been a columnist for Forbes magazine, and has written for the Wall Street Journal, Christian Science Monitor, and the Journal of Economic Perspectives, and is a frequent contributor to CNBC’s Kudlow & Co. He is the author of 25 books, including The Making of Modern Economics and Investing in One Lesson. He and his family have lived in Washington, DC; Nassau, the Bahamas; London; Orlando; and New York. He has lived in eight countries, traveled and lectured in 71 countries. In honor of his work, Grantham University renamed its B school "The Mark Skousen School of Business," where he holds the Benjamin Franklin Chair of Management.
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Thursday, October 15, 2009

Chad Swarthout vs. Michael Moore

Read more! Chad Swarthout, a student at George Washington University and officer of the GW Liberty Society, gets Michael Moore to admit that Moore's new movie, Capitalism: A Love Story, is about corporatism and not true free market capitalism.

Unfortunately, Michael Moore continues to ramble and shows his blatant ignorance of scarcity in the world. "Everything should be free....."

http://link.brightcove.com/services/player/bcpid1733261710?bclid=43205421001&bctid=43610564001

Wednesday, October 7, 2009

Who's Paying for Your Healthcare?

Read more! Who's Paying for Your Healthcare? The GMU Economics Society will be hosting three panelist experts intended to answer your questions about the health care debate. The Healthcare Reform Forum will be an open discussion/Q&A with the panelists so be sure to come with your questions prepared.

Date: Wednesday, October 14
Time: 6:00pm
Location: SUB I Lobby

The Panelists: Dr. Thomas Rustici, Dr. Robin Hanson, and Dr. Stephen Davies

Some sample topics that will be addressed:
-Who's going to be paying for your healthcare?
-Will students benefit from a nationalized health care reform?
-Do you want to import Britain's or Canada's healthcare system?
-Do government prevention programs reduce health care costs?
-Is health care a right?
-Do you want a health care system that focuses on people not profits?

The current health reform will have an important effect on you and your future. This an opportunity to help you understand the health care debate and develop a better informed opinion on the topic. Don't let this opportunity slip away; become educated on this current issue!

Dr. Rustici & Dr. Hanson are part of the George Mason Economics Department Faculty. Dr. Davies is a faculty member of the Manchester Metropolitan University in Great Britain.

For the facebook event, click here:
http://www.facebook.com/home.php#/event.php?eid=150519149123&ref=mf

Wednesday, September 30, 2009

The Great Depression and the Current Recession: Similarities and Differences

Read more!
We will be hosting Dr. Robert Higgs to speak at the 2nd installment of the Economic Liberty Lecture Series for the Fall 2009 semester. The topic of the lecture will be "The Great Depression and the Current Recession: Similarities and Differences."

The event will be held in the the JC Cinema (bottom floor of the JC), on Monday, October 5th starting at 5:30pm with a free pizza dinner, followed by the talk with Q&A at 6pm, and then a social hour at Brion's Grille afterward. Brion's Grille is located across the street from George Mason (address: 10621 Braddock Road, Fairfax, VA 22030).

Schedule:
5:30 pm - Dinner
6:00 pm - Talk with Q&A
8:00 pm - Social Hour at Brion's Grille
ADMISSION: FREE

Location: George Mason University, Fairfax Campus
Johnson Center Cinema

SPEAKER: Robert Higgs
Robert Higgs is Senior Fellow in Political Economy for The Independent Institute and Editor of The Independent Review. He received his Ph.D. in economics from Johns Hopkins University, and has taught at the University of Washington, Lafayette College, Seattle University, and the University of Economics, Prague. He has been a visiting scholar at Oxford University and Stanford University, and a fellow for the Hoover Institution and the National Science Foundation.

Presented by:
GMU Econ Society
www.gmueconsociety.blogspot.com

The Future of Freedom Foundation
www.fff.org

Thursday, September 24, 2009

GMU Economics Student Advising Workshop

Wednesday, September 16, 2009

Upcoming SFL Conferences & Events

Read more! Students for Liberty (SFL), a nonprofit student-driven organization, provides a multitude of conferences, activities, and programs for students interested in liberty, free markets, and free societies. These programs & conferences are a GREAT opportunity to network with scholars, learn, and meet other students dedicated to the cause of liberty & the free market. Check out some of their upcoming events:

David Boaz at Cato: Freedom In Crisis
Friday, September 18th, 4-5pm
At the Cato Institute: 1000 Massachusetts Ave, NW, Washington D.C.

The DC Forum For Freedom launches its monthly Cato lecture series for all libertarian students and liberty lovers in the Capital this September with a lecture on Freedom In Crisis by David Boaz, Vice President of the Cato Institute.

The Philadelphia Students For Liberty Regional Conference
Saturday, November 7
At Drexel University in Philadelphia, PA

From 8 am till 11 pm, become acquainted with and hear incredible speeches by top scholars and activists in the liberty movement. Immerse yourself in the philosophy of freedom, meet like-minded students, network with the leaders in the movement, gain new ideas, and become the next generation of leaders who will preserve our essential academic, social, and economic liberties. You will take back with you a bundle of resources in student organizing, academic support, networks for internships and jobs, great memories and even greater friends!

Breakfast, lunch, and dinner are all covered. After a great day of speeches, discussion sessions and panels on academic issues and student leadership, let loose at our freedom lovers’ social on Saturday night!

Speakers:

Keynote speaker Dr. Alan Charles Kors, nationally distinguished scholar of European history at the University of Pennsylvania and big-time advocate of academic freedom, discusses “Can There Be An “After Socialism?”

Dr. Nigel Ashford, world acclaimed professor of politics and senior program officer at the Institute for Humane Studies, discusses “Changing The World For Liberty.”

Dr. James Lark III, Former chairman of the Libertarian National Committee and current notable professor of engineering at the University of Virginia.

Matthiew Brouillette, President of the Commonwealth Foundation.

Adam Kissel, Director of the defense program at the Foundation for Individual Rights in Education.

Jordan Page, inspirational instrumentalist, classical guitarist and rock artist gaining rapid attention in the liberty movement across the country, performs for us his top hits!

Allison Gibbs, Freedom fighter and founder of the up-and-coming Ladies of Liberty Association

To register: http://www.surveymonkey.com/s.aspx?sm=2L5hpsiclGeeAU7d_2fizUew_3d_3d
For more info, check out the facebook group: http://www.facebook.com/event.php?eid=228095965373&ref=ts

2010 International Students For Liberty Conference
Friday, February 14-Sunday, February 16
American University, Washington D.C.

The International SFL Conference is the premiere event of the year for students dedicated to liberty and advancing freedom on campus. The largest crowd of pro-liberty students will gather in Washington, DC for a weekend of learning about liberty from contemporary leaders in liberty, discussing best practices for promoting liberty on campus, and getting more involved in the larger movement for liberty.

SFL will have Ed Crane, the Founder & President of the Cato Institute, deliver a Keynote Address to the International SFL Conference from the Cato Institute! Mr. Crane has been an inspirational leader in the cause of liberty. This is a once in a lifetime opportunity to hear him specifically address students. After his Address, conference attendees will be able to meet other Cato staff and scholars at a Cato on Campus reception hosted on the first floor of the Cato Institute. (The conference will help transport students from AU to the Cato Institute.)

Click here to learn more and register: http://politicalconferences.org/2009/07/zow/
Registration is required and space is limited. The registration fee is only $10 if you sign up by October 1st. Don't wait, register now to reserve your spot

Also, check out the event on facebook: http://www.facebook.com/event.php?eid=228095965373&ref=ts#/event.php?eid=154020216799&ref=ts

Monday, September 14, 2009

Dan Mitchell on Government Spending

Read more! Dan Mitchell from the Cato Institute does a great job explaining the effects of government spending...check out this video!

Wednesday, September 2, 2009

Upcoming Fall 2009 Events

Wednesday, August 19, 2009

Economic Liberty Lecture Series: Lew Rockwell, Wednesday 9/9

Read more! First GMU Econ Society event of the Fall 2009 semester: Economic Liberty Lecture Series: Lew Rockwell

Get started early and come out to the first GMU Economics Society Event of the semester. This will also be the first installment of the Economic Liberty Lecture Series for the 2009-2010 school year.

Dinner, Lecture, and a Movie
5:30 pm – Dinner
6:00 pm – Talk with Q&A
7:30 pm – Movie
ADMISSION: FREE

Location: George Mason University, Fairfax Campus
Student Union Building II, Room 5

SPEAKER: Llewellyn H. Rockwell, Jr.
Llewellyn H. Rockwell, Jr. is chairman of the Ludwig von Mises Institute in Auburn, Alabama, editor of LewRockwell.com, and author of The Left, the Right, and the State.

MOVIE: Sophie Scholl: The Final Days
“Arrested for participating in the White Rose resistance movement, anti-Nazi activist Sophie Scholl (Julia Jentsch) is subjected to a highly charged interrogation by the Gestapo, testing her loyalty to her cause, her family and her convictions. Based on true events, director Marc Rothemund's absorbing Oscar-nominated drama explores maintaining human resolve in the face of intense pressure from a system determined to silence whistle-blowers.”

Presented by:
GMU Econ Society
www.gmueconsociety.blogspot.com

The Future of Freedom Foundation
www.fff.org fff@fff.org 703-934-6101

Coming out to events is also a GREAT way to network so join the GMU Econ Society on Wednesday, September 9th to see Lew Rockwell!

Monday, July 20, 2009

Dan Mitchell on Tax Policy

Read more! Check out these highly entertaining videos of class-warfare tax policy, Obama's deferral proposal, the social security tax plan, and corruption in the government. Dan Mitchell, an expert in tax reform from the Cato Institute, discusses the problems with these policies. Also, Dan Mitchell received his Ph.D in Economics from George Mason.

President Obama and other politicians are advocating higher taxes, with a particular emphasis on class-warfare taxes targeting the so-called rich.

President Obama's proposal to severely restrict "deferral" will cause a significant tax increase on American companies trying to earn market share in other nations. For all intents and purposes, the White House plan is protectionism, but the target is American companies rather than their foreign rivals.

In addition to several other tax increases, Barack Obama wants to increase the Social Security payroll tax burden by imposing the tax on income above $250,000. This would be a sharp departure from current law, which only requires that the tax be imposed on the amount of income needed to "pay for" promised benefits. But more important, at least from an economic perspective, the initiative would increase the top tax rate on productive behavior by as much as 12 percentage points - and this would be in addition to his proposal to kill the 2003 tax rate reductions and further boost the top rate by 4.6 percentage points. This mini-documentary explains why a big tax rate increase on highly productive people would be very damaging to America's prosperity, especially in a competitive global economy.

Washington is riddled with corruption, much of which actually is legal. The politicians and other insiders claim that more ethics laws and lobbying rules are the solution. Some even say the only answer is campaign finance laws that restrict 1st Amendment rights to fully participate in the political process.

Enjoy & spread the word!

Thursday, July 9, 2009

SFL Conferences: Get the word out!

Read more! The Students For Liberty conferences are a great experience and wonderful opportunity to network, advance your understandings, and meet other liberty-orientated students. Check out this message from SFL on their upcoming conferences:

At Students For Liberty we are excited to announce that we will be hosting seven Regional Conferences this year. Building on the success of our famous International Conference and last year's Regional Conferences, we are taking the liberty message on the road to campuses across the country. These conferences, co-sponsored by the Don Smith Family Foundation, will allow us to reach new minds and swell the ranks of the student movement for liberty.

Each Regional Conference will feature expert speakers, three meals, and an evening social event. Last year's keynote speakers included Foundation for Economic Education President Lawrence W. Reed, Harvard University Professor Jeffrey Miron, and Cato Institute Senior Fellow Tom Palmer. This is not an opportunity you or your friends should miss!

To promote and organize these conferences we have launched a new website: www.politicalconferences.org. This site will act as your center of information for all news and updates related to the Regional Conferences. The site also features this video, which will give you a better idea of what the conferences are about and can help you advertise to other students. Click the link below if the video does not display correctly in your email.

SFL Fall 2009 Conferences Promo from Students For Liberty on Vimeo.

Here is a full list of the upcoming Regional Conferences:

Midwestern Conference - October 10 - University of Chicago, Chicago, IL
Southern Conference - October 24 - Wake Forest University, Winston-Salem, NC
Western Conference - October 24 - Arizona State University, Tempe, AZ
Texas Conference - October 24 - University of Texas, Austin, TX
Northeastern Conference - November 7 - Harvard University, Cambridge, MA
Mid-Atlantic Conference - November 7 - Drexel University, Philadelphia, PA
Ivy League Alliance For Liberty Conference - January 2010 - Columbia University, New York, NY

Registration forms for the conferences will be available shortly. Until then, we need your help to spread the word about these conferences. Hear is a list of ways that you can help:

Forward this email to your friends and group members.
Click here to RSVP for the events on Facebook.
Post links to the website and video on your favorite liberty blogs, message boards, and Facebook pages.
If you want to get involved in helping plan a conference, contact your Regional Director. Their contact information is listed on the page of their respective conference.

Again, we cannot make the Regional Conferences a success without your help. If you have any questions please visit the new website www.politicalconferences.org or email info@studentsforliberty.org.

Monday, June 22, 2009

Help name a building after Gordon Tullock!

Read more! Hey all,

We need your help! We have an opportunity to help rename the Truland Building on the GMU Arlington campus after Professor-emeritus and economist, Gordon Tullock.

You can read more about the effort/sign your name in favor of it at the following page:

http://www.freeliberal.com/blog/archives/003832.php

Thanks & spread the word!

Friday, May 22, 2009

Summer of Games 2009

Read more! A message from Bryan Caplan...

Summer of Games 2009! Our creed:
-------------------------------------

WHEREAS there is more to life than work...

WHEREAS live gaming is far more fun than videogaming...

WHEREAS the transactions cost of organizing individual gaming sessions is
high...

I once again declare the following 3 months to be the Summer of Games!

My proposal: Each Thursday at 12:30 PM during the summer (with a couple
exceptions to accomodate conflicting activities), gamers discretely
descend upon Carow Hall, playing until 4 or 5 or possibly 6. The game
can then be selected to suit the number of players.

In the past, we've played Diplomacy, Settlers of Cataan, Puerto Rico,
Iron Dragon, Kremlin, Serenissima, Condottieri, El Grande, and much more.
I'm also willing to GM RPGs if I get an advance commitment from 3 or more people.

*A Few Rules*

The following seemed to work well in previous years:

1. All players eat lunch BEFORE they arrive, to minimize food-related
disruptions.

2. Players should be careful not to disrupt actual work at Carow Hall
with excessive noise, etc. That way we can keep playing in this
convenient location. Normally we should have the conference room all to
ourselves.

Join the fun!

Monday, April 20, 2009

Anarchy : The Economics of Self-Governance a lecture by Edward Stringham

Read more! Is the private provision of defense possible? Can law be supplied by the market? Is anarchy an alternative to the state?

If any of these questions interest you, please come join the GMU Econ Society to hear Prof. Ed Stringham's talk on the economics of self-governance. The lecture will be on Thursday April 30th at 3pm in the Johnson Center Meeting Room 239A, with refreshments provided afterward.

On the lecturer:
Edward Stringham is an associate professor of economics at Trinity College, President of the Association of Private Enterprise Education, Editor of the Journal of Private Enterprise, editor of two books, and author of two dozen articles in refereed journals including the Journal of Institutional & Theoretical Economics, Quarterly Review of Economics & Finance, and Journal of Labor Research.

Stringham has been discussed on more than 100 broadcast stations including CBS, CNBC, CNN, Fox, Headline News, NPR, and MTV and in hundreds of newspapers worldwide including 14 of the 20 highest circulating newspapers in the United States and the highest circulating English language newspaper in the world. His work has been the subject of discussion by Entertainment Tonight's Leeza Gibbons and inspired a cartoon by New York Times Syndicated Political Cartoonist Jeff Danziger.

Stringham earned his Ph.D. from George Mason University in 2002, and has won the Templeton Culture of Enteprise Best Article Award, Paper of the Year Award from the Association of Private Enterprise, Best Article Award from the Society for the Development of Austrian Economics, Second Place in the Independent Institute Garvey Contest, and Distinguished Young Scholar Award from the Liberalni Institut and the Prague School of Economics.

To See Dr. Stringham on CNBC "No Booze, You May Lose":
http://www.youtube.com/watch?v=rDBwom174TA

To Buy Dr. Stringham's book "Anarchy and the Law" The Political Economy of Choice":
http://www.amazon.com/Anarchy-Law-Political-Economy-Independent/dp/1412805791/ref=pd_bbs_sr_1?ie=UTF8&s

Tuesday, April 7, 2009

Caplan Vs. Hanson Debate

Read more!
Come see the event of the year: Bryan Caplan and Robin Hanson will debate on Liberty vs. Efficiency, Tuesday April 14th. The debate will take place in Enterprise Hall Room 80 at 530pm. The event is open to the public so please come and bring as many guests as you'd like!

Liberty:
Arguing on behalf of liberty is Bryan Caplan, Associate Professor of Economics at George Mason University. Professor Caplan received a BA in Economics from U.C. Berkley and a Phd in Economics from Princeton University. Professor Caplan is author of the bestseller book "The Myth of the Rational Voter: Why Democracies Choose Bad Policies" and has papers published in the Economic Journal, the Journal of Law and Economics, Social Science Quarterly, the Journal of Public Economics, the Southern Economic Journal, Public Choice, and numerous other outlets. Dr. Caplan's areas of specialty include are Public Choice, Public Finance, and Monetary Economics. Caplan's blog "EconLog" with Arnold Kling and David Henderson can be found at http://econlog.econlib.org/.

Efficiency:
Arguing in favor of efficiency is Robin Hanson, Professor of Economics at George Mason University. Professor Hanson received a BS in Physics from UC Irvine, MS and MA in Physics and Philosophy of Science at University of Chicago, and his Phd in Economics at the California Institute of Technology. Professor Hanson has had many scholarly papers published in peer reviewed journals such as Public Choice, the Journal of Law, Economics, and Policy, and Economica. Professor Hanson's research recently has surrounded prediction markets and possibly exciting applications for them. Hanson's blog "Overcoming Bias" can be found here http://www.overcomingbias.com .

Sunday, March 29, 2009

Economic Liberty Lecture Series: Bruce Fein Monday 4/6

Read more! Economic Liberty Lecture Series: Bruce Fein

The GMU Econ Society is very fortunate to have legal expert Bruce Fein come speak at the 4th installment in the Economic Liberty Lecture Series hosted by the Future of Freedom Foundation and the GMU Econ Society. The event will be held in the Johnson Center Cinema on Monday April 6 at starting at 530pm with a free pizza dinner, the talk with Q&A, and then a showing of the movie Equilibrium. Here is more info on the event:

Schedule- Monday 4/6/09
5:30 pm – Pizza
6:00 pm – Talk with Q&A
7:30 pm – Movie

SPEAKER: Bruce Fein
Bruce Fein commands impressive experience and influence in the corridors of both national and international power. He graduated from Harvard Law School with honors in 1972.
After a coveted federal judicial clerkship, he joined the U.S. Department of Justice where he served as assistant director of the Office of Legal Policy, legal adviser to the assistant attorney general for antitrust, and the associate deputy attorney general. Mr. Fein then was appointed general counsel of the Federal Communications Commission, followed by an appointment as research director for the Joint Congressional Committee on Covert Arms Sales to Iran.
He recently served on the American Bar Association's Task Force on Presidential signing statements.

MOVIE: Equilibrium
“In a futuristic world, a strict regime has eliminated war by
suppressing emotions: books, art and music are strictly
forbidden and feeling is a crime punishable by death. Cleric John Preston (Christian Bale) is a top ranking government agent responsible for destroying those who resist the rules. When he misses a dose of Prozium, a mind-altering drug that hinders emotion, Preston, who has been trained to enforce the strict laws of the new regime, suddenly becomes the only person
capable of overthrowing it.”

Presented by:
GMU Econ Society
www.gmueconsociety.blogspot.com

The Future of Freedom Foundation
www.fff.org fff@fff.org 703-934-6101

For highly recommended videos of Bruce Fein at the FFF's Restoring the Republic 2008 Conference click here.

To watch the trailer for Equilibrium click here.

Monday, November 24, 2008

Russel Roberts @ CATO

Tuesday, October 28, 2008

Why I Don't Vote (in national elections)

Read more! Given all the attention around campus about voting recently, I decided to weigh in on the election and write to the editor of GMU's newspaper the Broadside. Here is what was published:

Who are you voting for? I hear this question nearly every day as the national election approaches. Often people look to me for advice on this issue because I am the president of George Mason University’s Economics Society, expecting a reasoned response why one candidate is better than another on economic issues.

What answer do I give? I simply respond: “I don’t vote.”

CLICK READ MORE for the rest of the post.

Am I apathetic about economic, international, or other policy? No; in fact I hold very strong opinions about public policy. What I am apathetic about is the impact of my vote.

The reason I feel this way is mainly because of the public choice school of economics. This school of thought was founded by two of Mason’s greatest scholars, Gordon Tullock and Nobel laureate James Buchanan, who revolutionized the way the world looks at politics. Public Choice says that if we assume people act relatively self-interested in their personal lives we should assume they will act self-interested in their public lives. Just as regular citizens act to increase their benefits, politicians act to increase their own gains.

In a democratic election process, the winner must win at least 51 percent of the vote. To get the 51 percent, the candidate must not only sway the fringe party members but they must seek to satisfy the preferences of the moderates. It is more likely to get your own hardcore party members to vote for you, but much harder to get the moderates and independents. It is no surprise then that politicians aim to formulate policies based upon the wants of these moderate, or median, voters.

Since both presidential candidates are fighting over the same wants of the median voter, one would expect to see very similar policies from each. This tends to be the case throughout history—President George W. Bush’s policies were more leftist than his critics would let on and former President Bill Clinton was much more conservative than pundits would admit.

The takeaway is that whether Sen. Barack Obama, D-Ill., or Sen. John McCain, R-Ariz. wins, the policies they are offering must be very similar if they are rational and want the most votes. You may still not be convinced though, saying perhaps the slight changes in implementation or experience matter as to voting for one or the other. Public choice economics has an excellent response to this argument: the Returns to Voting Model.

Most people recognize that the probability of their vote mattering in a national election, even with the Electoral College system, is infinitesimally small. You have a higher probability of dying in a car crash on the way to vote than you have of your vote individually deciding the election. The benefit to you of voting then is a small number multiplied by a very tiny number. Add on the cost of voting—missing school, work, or reading a book—and most likely you have a negative return from voting.

Despite these statistical truths, many millions of Americans will still go out and vote on Nov. 4. These voters are not irrational; they get their pleasure out of participating in the democratic process that has been passed down from our founding fathers. Voting “for fun” in this way is in fact very rational. Voting for change in policy is not. If you want to make the world better off, you’ll do much better by volunteering, educating others, or just yourself, on important issues. But if you are still planning on voting next Tuesday, by all means, enjoy yourself.

Sincerely,

Kevin R. Hilferty

President, GMU Economics Society

GMU Econ Society

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