> We elect leaders - people with skills, knowledge, and expertise.
I admire your optimism but saying it doesn't make it so.
We elect people able to convince others they should be elected. Often that means they possess the ability to convince others they have the skills, knowledge, and expertise you describe.
If you think that's the same thing as actually having skills, knowledge, and expertise, well, I have bad news for you...
Do our current elected leaders understand discounted cash flows or opportunity cost? I'm not seeing evidence our current process results in people skill, knowledge, and expertise, especially given the over representation of people from entertainment.
Yes. They just don’t talk about it because the voters don’t understand and feel insulted when they hear politicians talk about stuff they don’t understand.
Literally laughed out loud about this. You might have missed some of the things that prominent leaders with "skill, knowledge, and expertise" have been doing:
Isn’t literally a Kennedy a point against proving merit? Do you think many professors would fail a Bush, Clinton, Bezos, Zuckerberg, etc? Do such bloodlines even have to apply for admittance to prestigious institutions?
It is weird that you included Zuckerberg in that list -- Mark, I presume. I'm pretty sure it was not from a famous nor super wealthy family. Although, he did attend a prestigious high school, so his parents are probably upper middle class in US parlance. And Hillary Clinton is brilliant. Look at GW Bush's kids by comparison.
Does the average citizen even understand discounted cash flows or opportunity cost? And not to mention legal concepts I’m ignorant of.
I don’t see why lowering the quality of candidates by 10x would improve things.