The invisible hand of the electorate and the invisible hand of capitalism cannot be falsified by anything, because they are, well, invisible, here:
Put plainly, Wanniski argued that the electorate always gets things right, or in his words:
“…the electorate as a whole is wiser than any individual member in understanding its interests, it is wiser than any economist or group of economists.”
No doubt many readers are scratching their heads in response to the above, but as Wanniski put it to the late William F. Buckley (paraphrase), “You’re likely smarter than every individual inside a packed football stadium, but collectively those individuals are smarter than you are.” The wisdom of crowds….
We may not have always liked the end result, but the electorate has always been right. ...
The electorate unhappily gave [George W. Bush] another shot; one it presumably came to regret. ...
Obama ... [i]s as a result presiding over a sick economy that should be strong, and as the electorate dislikes failures, Obama’s days in the White House are numbered. ...
The electorate is dying to fire Obama, history says it will given its aversion to failures, yet Romney’s timidity with regard to policies actually meant to grow the economy point to a close win for Romney when it should be a rout. Wanniski’s electoral model says so.
The libertarians are as bat-shit crazy as the Keynesians.
