What if your side hustle is being in Congress?

our alarm wakes you at 7:00 am and you groggily rise from your uncomfortable hotel bed. The date is October 21st, 2073. You brush your teeth and dress promptly as you prepare for jury duty. The assembly where you will meet your peers is a mere block away, so you can afford to grab an apple in the lobby before you leave. Though it's called jury duty, you aren’t there to decide whether a party is guilty or not guilty in some mundane contractual dispute. Instead, you and 499 randomly selected individuals have a much heftier responsibility; to govern the city you call home.

Today, when we think of “democracy,” most imagine a system where the people govern indirectly through elected representatives. Most agree, however, that Western-style representative democracy has lost its way. It was once hailed as a superior, perhaps even the “final” form of government, straddling the delicate balance between anarchic chaos and rigid authoritarianism. Economic stagnation in much of the West and the consequent return to a “zero-sum” vision of the world have enabled populist leaders to pit the people against their own governments. Where this new populist path takes us is uncertain, but it has never been clearer that many people, correctly or not, believe that representative democracy is failing us.

What alternative is there?

In his book, 10 Percent Less Democracy, author Garett Jones argues that there is an ‘optimal’ amount of democracy; too little can be just as problematic as too much. Elected representatives, for example, behave differently when they are up for reelection, often leading to poor policy choices. They choose what is “popular” with their constituents in the short term over what is better for the nation in the long run. Senators in America, for example, tend to support counterproductive protectionist policies when up for reelection.

Some government roles require unpopular decisions and those appear best left to unelected experts. Central bankers, for example, have the unenviable task of controlling the money supply to balance the business cycle—the data shows that independent central bankers average 4% lower inflation, yet maintain about the same unemployment and economic growth rates as captive bankers. Similarly, cities with elected treasurers pay higher interest rates than those with appointed experts. Interest rates are a good indicator of financial health; high rates mean lenders feel less confident lending to you.