Remember the scandal over the faulty GM ignition switch? If you believe Congress and the press, GM’s Ions and Cobalts are rolling death traps. I argued in Slate that the statistics show they are not. The incremental effect of the faulty ignition switch on the risk of getting killed in an accident is close to zero. Two members of Congress asked NHTSA why it hadn’t told people to stop driving the cars until they’re repaired. In response NHTSA explains:
In other words, the cars aren’t dangerous. So to all appearances this really was a classic Kuranian-Sunsteinian availability cascade.