Tuesday, June 8, 2010

Surprise - the left flunks economics 101

As one who has studied economics for many years, it has been obvious to me that the left is defined by its determined ignorance of basic economic principles. Here's a study confirming that obvious fact.

"How did the six ideological groups do overall? Here they are, best to worst, with an average number of incorrect responses from 0 to 8: Very conservative, 1.30; Libertarian, 1.38; Conservative, 1.67; Moderate, 3.67; Liberal, 4.69; Progressive/very liberal, 5.26...

On every question the left did much worse. On the monopoly question, the portion of progressive/very liberals answering incorrectly (31%) was more than twice that of conservatives (13%) and more than four times that of libertarians (7%). On the question about living standards, the portion of progressive/very liberals answering incorrectly (61%) was more than four times that of conservatives (13%) and almost three times that of libertarians (21%).

The survey also asked about party affiliation. Those responding Democratic averaged 4.59 incorrect answers. Republicans averaged 1.61 incorrect, and Libertarians 1.26 incorrect."

The continuing ignorance of a large fraction of the population about economics is one of the wonders of our age. A majority of politicians today don't know as much about the subject as economic thinkers of 150-200 years ago. The result of that ignorance is the imposition of destructive policies that make almost everyone poorer.

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