I disagree. As your comment suggests, a well-in...

2012-01-03T22:36:45.449-06:00

I disagree.

As your comment suggests, a well-informed public and transparent governmental finance is often lauded as an important ingredient to effective direct democracy, but as I understand Myerson's political-economic perspective, he would not trust the direct democracy mechanism to deliver good policy (for many of the reasons you point out in your California example, but others too).

I think his point is that a well-informed public together with a transparent scheme for delivering information about governmental finance would positively contribute to the governmental mechanism we currently have (and would push policy toward a more rational end).

It sounds like he is suggesting direct democracy, ...

2012-01-03T19:32:19.717-06:00

It sounds like he is suggesting direct democracy, as California has and is doing... Look how well that has helped California's finances (sarcasm). The main problem with direct democracy is interpretation and manipulation. Voters may not understand the "high-school level description" and/or other parties may interfere in their own best interest.

Comments on This Young Economist: On The Power of Clarity

I disagree. As your comment suggests, a well-in...

It sounds like he is suggesting direct democracy, ...