The Paradox of Voting

Why do people bother to vote?

It’s a fair question. After all, the chances of one vote affecting a national election are infinitesimally small. Some years, in a small, swing-state like New Hampshire, those chances inflate from infinitesimally to microscopically small. But still, any rational observer would have to conclude that Election Day is a exercise in the triumph of the irrational—a sort of mass-delusion in which we willingly deceive ourselves into believing that We Can Make a Difference.

Because we also know that if it came down to a dozen votes or so, the recounts and the lawsuits and appeals would be so numerous that if we could harness the hot air generated we could heat our homes with it this winter. Some subset of judicial officials somewhere remote from us would make the final call. And we would have to sit passively like football fans frustrated at the officials, enraged but impotent.

Some say that it’s the linking of a national ballot with local issues that brings us to the ballot box. After all, it often is the case where local issues get decided by a vote or two. I’ve personally been involved in two such initiatives in the past decade. But turnout is always higher for national elections, so that can’t be the case. Or it may be that people vote in order to feel good about themselves—a sort of “voting as consumption good.” If so, then why do we complain about long lines and poor organization? If voting were like exercise, then overcoming obstacles should make us feel better—like doing a hard workout.

No, I think that voting is one of those public goods that people willingly donate—like picking up litter on a mountain trail that you never expect to hike again. We do it because we know that it does make our country a better place. And if we don’t like the outcome, we can always buy one of those bumper stickers that proudly proclaims, “Don’t blame me: I voted for the other guy.” We retain the right to complain.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By | 2017-07-17T12:34:45+00:00 November 6th, 2012|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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