Outside the Asylum
Submitted by Cant Stop the M... on Sun, 08/02/2020 - 5:36am

Incremental Change
A tip o' the hat to Naked Capitalism's Lambert Strether today for including a link to
The median voter theorem was developed by Harold Hotelling in 1929, although it wasn't until the 1970's that the Democrats took it seriously. It states that "a majority rule voting system will select the outcome most preferred by the median voter".
His thinking was to compare politics to businesses selling similar consumer products.