4 ms·

Self-identified liberals and Democrats do badly on questions of basic economics.

2 points by Robin_Message 16y ago

Robin_Message 16y ago
Original research link: http://econjwatch.org/articles/economic-enlightenment-in-relation-to-college-going-ideology-and-other-variables-a-zogby-survey-of-americans http://econjwatch.org/articles/economic-enlightenment-in-rel...
Robin_Message 16y ago
However, the bias on the study is terrible, and I'd have loved to see the questions they suggested like: "It would have been good, for example, if a question had asked about negative consequences of drug prohibition, or the positive consequences of increased immigration from Mexico." But even looking at the simple ones like "rent controls reduce housing availability" and "minimum wage laws increase unemployment" there is some unfortunately shocking naivety displayed.
- _delirium 16y ago
  On the last one, economists are less agreed on that than they used to be. Surveys used to routinely find 90%+ of economists thinking that minimum wage laws increase unemployment, but in recent surveys it's down to ~60% or so, because a few large empirical studies have failed to find any relationship. Economic theory still claims that there should be a relationship, but it seems not to actually happen in practice when minimum wages have been raised, or at least happens at small enough magnitude that it's difficult to detect.
  - andre3k1 16y ago
    Yes, but the principles taught in introductory and intermediate level economic courses argue for a relationship between minimum wage laws and unemployment. To think that those surveyed have an understanding of economics that supersedes an intermediate level is kinda crazy, huh? I would venture to say that the majority of the population is far below that level.
donohoe 16y ago
Would like to see how Tea Baggers do on questions of basic law, government, policy and economics. And I mean basic. While I'm sure many are thoughtful informed people I've been given the impression that most are not. Genuinly curious to see how perception (mine) versus reality.
- andre3k1 16y ago
  Yeah so? That still doesn't justify the information presented by this article. It's sad that BOTH sides (in other words, a majority of the population) are ignorant when it comes to political issues. But ask those same questions about Britney Spears' latest ploy for attention.....
drallison 16y ago
Economics is not a science and certainly not something that can be verified experimentally. Many of the fundamental precepts of neo-classical economic theory are clearly wrong. (See, for example, Eric Beinhocker, Origin of Wealth). This "survey" is a bit like a catechism quiz, designed to separate the true believer from the heretic.
captaincrowbar 16y ago
Dan Rutter did a good thorough demolition job, oops, I mean objective analysis of this: http://dansdata.blogsome.com/2010/06/15/foo/ http://dansdata.blogsome.com/2010/06/15/foo/

2 points by Robin_Message 16y ago

Original research link: http://econjwatch.org/articles/economic-enlightenment-in-relation-to-college-going-ideology-and-other-variables-a-zogby-survey-of-americans http://econjwatch.org/articles/economic-enlightenment-in-rel...

Robin_Message 16y ago

However, the bias on the study is terrible, and I'd have loved to see the questions they suggested like: "It would have been good, for example, if a question had asked about negative consequences of drug prohibition, or the positive consequences of increased immigration from Mexico." But even looking at the simple ones like "rent controls reduce housing availability" and "minimum wage laws increase unemployment" there is some unfortunately shocking naivety displayed.

_delirium 16y ago
On the last one, economists are less agreed on that than they used to be. Surveys used to routinely find 90%+ of economists thinking that minimum wage laws increase unemployment, but in recent surveys it's down to ~60% or so, because a few large empirical studies have failed to find any relationship. Economic theory still claims that there should be a relationship, but it seems not to actually happen in practice when minimum wages have been raised, or at least happens at small enough magnitude that it's difficult to detect.
- andre3k1 16y ago
  Yes, but the principles taught in introductory and intermediate level economic courses argue for a relationship between minimum wage laws and unemployment. To think that those surveyed have an understanding of economics that supersedes an intermediate level is kinda crazy, huh? I would venture to say that the majority of the population is far below that level.

donohoe 16y ago

Would like to see how Tea Baggers do on questions of basic law, government, policy and economics. And I mean basic. While I'm sure many are thoughtful informed people I've been given the impression that most are not. Genuinly curious to see how perception (mine) versus reality.

andre3k1 16y ago
Yeah so? That still doesn't justify the information presented by this article. It's sad that BOTH sides (in other words, a majority of the population) are ignorant when it comes to political issues. But ask those same questions about Britney Spears' latest ploy for attention.....

drallison 16y ago

Economics is not a science and certainly not something that can be verified experimentally. Many of the fundamental precepts of neo-classical economic theory are clearly wrong. (See, for example, Eric Beinhocker, Origin of Wealth). This "survey" is a bit like a catechism quiz, designed to separate the true believer from the heretic.

captaincrowbar 16y ago

Dan Rutter did a good thorough demolition job, oops, I mean objective analysis of this: http://dansdata.blogsome.com/2010/06/15/foo/ http://dansdata.blogsome.com/2010/06/15/foo/