

Self-identified liberals and Democrats do badly on questions of basic economics. - Robin_Message
http://online.wsj.com/article/SB10001424052748703561604575282190930932412.html

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Robin_Message
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
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
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.

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drallison
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.

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donohoe
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
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.....

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

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captaincrowbar
Dan Rutter did a good thorough demolition job, oops, I mean objective analysis
of this:

<http://dansdata.blogsome.com/2010/06/15/foo/>

