I read the wiki page on public choice theory and eventually found a wiki page for The Myth of the Rational Voter [1] where they talk about rational irrationality [2].
The idea is that people are more likely to make irrational decisions when the cost of that decision is low, like in voting. An irrational vote only harms you as an individual in a very small way since the cost is distributed across the entire population.
So, it seems to me that we should look for ways to increase the cost of irrational decisions. I'm not sure the best way to accomplish this, but one way would be to reduce the power that government has, thereby reducing the impact of irrational decisions.
Wouldn't that make the decisions people make even less valuable? Wouldn't that promote irrationality on a larger scale, if they're coupled as you say? Are you arguing that there is an inflection point or are you arguing for a useless government?
The idea is that people are more likely to make irrational decisions when the cost of that decision is low, like in voting. An irrational vote only harms you as an individual in a very small way since the cost is distributed across the entire population.
So, it seems to me that we should look for ways to increase the cost of irrational decisions. I'm not sure the best way to accomplish this, but one way would be to reduce the power that government has, thereby reducing the impact of irrational decisions.
https://en.wikipedia.org/wiki/The_Myth_of_the_Rational_Voter...
https://en.wikipedia.org/wiki/Rational_irrationality