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The "Watchful Eye" Fallacy

JUNE 02, 2009 by JAMES L. PAYNE

No matter how many codes and decrees fill the law libraries, lawmakers seem to believe that just a few hundred thousand more pages of regulation will set the country right.

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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