The great mass of people form their political beliefs with little regard for facts or logic. However, the elites also have a strategy for avoiding truth. Elites form their political beliefs dogmatically, using their cleverness to organize facts to fit preconceived prejudices. The masses' strategy for avoiding truth is to make a low investment in understanding; the elites' strategy is to make a large investment in selectively choosing which facts and arguments to emphasize or ignore.
One of my strongly-held beliefs, for which I tend to attract supporting evidence and repel contrary arguments, is that markets process information more effectively than does the political process. Perhaps it as an exaggeration to refer to the market as the "world of truth," as Tim Harford does in The Undercover Economist. However, it strikes me that it is easier for market forces to drive a bad firm out of business than it is for political forces to extinguish a policy that fails to meet the objectives that purportedly drive its enactment.
Those who believe in the wisdom of the political process might argue that the competition between political elites--between Democrats and Republicans or between Krugman and Limbaugh--promotes reasonable outcomes. However, I suspect that the net result of this competition is to lead to greater accretion of government power, giving the elites more to fight over. Politics ultimately becomes a competition to promise the undeliverable, whether it be better public education, inexpensive health care, or government suppression of drug abuse or sexual immorality.
I believe in democracy because I distrust the elites. I distrust the elites because I believe that self-deception is widespread, and the elites are particularly skilled at it. Accordingly, I believe that it is important for those in power to have the humility of knowing that they may be voted out of office.
Others believe in democracy because they are hoping to see the triumph of a particular elite. Many liberals want to see sympathetic technocrats manipulating the levers of government, nominally for the greater good. I see government technocrats as inevitably embedded in a political system that inefficiently processes information. The more they attempt, the more damage they are likely to do. Many conservatives want to see government used for "conservative ends." However, I believe that the more that government tries to correct the flaws of families, the more flawed families will become.
The more knowledgable we are, the more we follow a high-investment strategy of selectively accepting evidence that favors our outlook while discounting contrary information. In science, this process ultimately is checked by the methods of experimentation, prediction, and falsification. In markets, it is checked by the process of profit and loss. In politics, the checks are less powerful. Our political beliefs are likely to be especially unreliable, regardless of which strategy we use to avoid truth.
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