I must admit that I am somewhat depressed by the state of the world today. Deflationary monetary policies in Europe, increased protectionist tendencies and war and geopolitical tensions around the world. It is no secret that I think it is all connected.
But why do voters around the world rally behind the cries for closed borders and even more military build-ups? Why do policy makers – democratic and non-democratic – find it in their interest to stir up anti-immigrant sentiment, geopolitical tensions and to introduce protectionist measures?
Bryan Caplan might provide the answer – the “anti-foreign bias” of rationally irrational voters – this is from a piece Bryan wrote for Reason from 2007:
A shrewd businessman I know has long thought that everything wrong in the American economy could be solved with two expedients: 1) a naval blockade of Japan, and 2) a Berlin Wall at the Mexican border.
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