Public choice, as defined by James Buchanan, is a perspective on politics that rejects idealized notions of politicians working for the common good. Instead, it views individuals in politics as primarily driven by self-interest, akin to economic actors. This approach focuses on individuals as the key decision-makers and emphasizes that groups do not make choices; only individuals do. It also recognizes that public and private choices differ due to variations in incentives and constraints. Public choice scholars have identified challenges in democratic decision-making, including the potential for majority rule to impose preferences on the minority. Additionally, Kenneth Arrow's "impossibility theorem" suggests that translating diverse individual preferences into collective decisions is inherently problematic, and electoral rules can be manipulated.

Awesome talk, so interesting. Thanks for surfacing it. This intersects a field of economic study called "public choice theory" which may interest you. Here's a place to read about it.

Must watch. 10/10.