Shared May 29, 2013
Do you think that a majority vote is always the fairest way to reach a consensus? Think again! In this Learn Liberty video, Professor Diana Thomas illustrates a paradoxical outcome that arises when people vote on three or more items -- known as Condorcet's Paradox -- and proves that it is quite easy for a savvy politician to manipulate the voting process in this scenario.
Condorcet's paradox occurs when a vote is taken on a set of three options that nobody ranks in the same order. Even though a vote of two of the options may yield a consistent winner, it's impossible to achieve a consistent outcome between all three choices. Usually, a majority vote is taken on only two options, so whoever gets to choose which two options are on the table (known as the agenda setter) has the power to dictate the winner of the vote.
Is this voting system fair? Is there a fair way to organize a vote? Discuss below!
Making Sense Of “Trumpism” - Learn Liberty
The Progressive Income Tax: A Tale of Three Brothers
Free Market Economics: Charity vs. Taxation – What is the Difference? Extended Cut - Learn Liberty
Stossel: Sweden is Not a Socialist Success
Business Cycles Explained: Keynesian Theory
Milton Friedman Crushes Man's 3 Questions like Dixie Cups
Free To Choose Network
WHY I SAID GLOBAL WARMING IS THE BIGGEST FRAUD IN HISTORY - Dan Pena | London Real
Median Voter Theorem Animation
What if Civil War broke out between Republicans and Democrats?
The Most Dangerous Monopoly: When Caution Kills
Does Government Create Jobs?