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3) This unawareness and these biases results in a lot of random statistical noise that is frequently very far removed from optimal policy outcomes.


Statistical noise isn't the problem since it cancels itself out in the long term. The problem is that there is systematic bias that can be exploited by groups proficient in the dark arts.


7) It is possible to design a system whereby these incentives for experts exist, and experts are given the power to create these improvements to government.


This sounds like the "and then a miracle occurs" step.


Central bankers have a very clear and simple job description with little oversight from the democracy. The ECB is directed to maintain price stability. The FED is directed to maintain price stability and keep unemployment levels low.


And even here there are a lot of questions about how effective they are.


Despite all that was said about the Affordable Care Act, how many American people could even explain the basic concepts underlying the changes made? I would guess less than 2%, at least by my standards of basic concepts.


But, they are capable of noticing if their medical (and generally) experience has improved or worsened.


Why not more technocracy?


It was tried in the first half of the 20th century. The results weren't encouraging.