In addition to the already mentioned differences in values and incentives when having a government official decide for you, there is also an information problem—a more intelligent person can do worse than you when deciding for you because they lack your local knowledge, both of your situation and your preferences.
In addition to the already mentioned differences in values and incentives when having a government official decide for you, there is also an information problem—a more intelligent person can do worse than you when deciding for you because they lack your local knowledge, both of your situation and your preferences.