In politics, self-correction doesn't save the self-corrector a dime. Voters who self-correct live under the exactly same policies as voters who don't self-correct. The result is a dire shortage of self-correction - and reliably ridiculous policies no matter who wins.
November 9, 2012
Jaltcoh points to Bryan Caplan's discussion of self-correction, which keeps us from dumb decisionmaking in our personal affairs, but: