on how creating more legislation to enhance government efficiency will fail here
When economics deems public services to be inefficient, legislative measures to redress such inefficiencies become redundant. Yet, what does not seem to decrease is public support for such wasteful legislative actions. The futile chase for an “effective” Lokpal to curb corruption is another example. In that case, too, the votaries of a “strong” Bill ignored these realities. The reason could be both the economic irrelevance and economic ignorance of voters in the political market.
In the democratic political market, the value of an individual’s vote amongst a million others is essentially infinitesimal. What this entails is voters possessing very little incentive to get educated on public policy to shape government action in a positive manner. But some argue that political competition would steer economies towards sounder public policy.
I love the sentence about voters not having the incetive to get educated on public policy - that is so true!
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