What I would like to vote for is a candidate that is socially liberal, a fiscal conservative, broadly libertarian with a small 'l' but sensible and pragmatic and with a chance of winning. That's more or less the empty set.

Tyler Cowen’s quote reflects a desire for a political candidate who embodies a mix of social liberalism, fiscal conservatism, and libertarianism. His vision calls for someone who supports individual freedoms, fiscal responsibility, and minimal government intervention in personal matters, while also being practical and grounded in reality. The phrase "small 'l'" refers to libertarianism in a more moderate or less dogmatic sense, emphasizing individual liberty without the rigid ideology that sometimes comes with the capitalized form of the term.

The key point in the quote is that such a candidate does not easily exist, as the combination of these views — socially liberal, fiscally conservative, and libertarian — is rare in contemporary political discourse. Socially liberal typically aligns with policies that promote equality, personal freedom, and progressive social values, while fiscal conservatism advocates for a limited role of government in economic matters, focusing on budget control and reducing spending.

By saying it’s “more or less the empty set,” Cowen is suggesting that the ideal candidate doesn’t currently exist in mainstream politics, and the political spectrum seems to lack a space for someone who is a blend of these seemingly conflicting ideologies. Cowen’s words imply that such a candidate would be sensible, pragmatic, and able to find common ground, but it’s hard to find someone with all these traits who is also electable.

Ultimately, Cowen’s quote highlights a frustration with the polarized political environment, where candidates often have to choose between competing ideologies. It speaks to the hope for a more balanced, centrist political figure who can navigate the complexities of governance while appealing to a broad range of voters.