bio_logical comments on The Two-Party Swindle - Less Wrong
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One advantage of the Two Party Swindle is that swing-voters usually decide an election. That is, the small percent of people who donât fall for Us vs. Them.
So though it may be designed to distract the populace while their purse is being lightened, the Swindle also results in the more unbiased voter having more influence (even though on paper itâs still one man, one vote).
This is known as Duverger's law. Bryan Caplan explains why it fails, here.