Robin Hanson is surprised to find that people know that voters don’t control regulators and that people are happy about this state of affairs.
He looks for really complicated reasons for why people feel this way. He also tries to fit the answer into the farmer/forager paradigm, which is a concise example of why I find him almost unreadable.
There is a much simpler answer that doesn’t involve farming or foraging. The answer has two parts: 1) The average voter doesn’t know shit about banking and 2) The whole notion of having voters somehow write banking regulations is absurd (how would it even work?).