Survey Shows That On Economics, Those On The Left Are Idiots

Yes, I know, you’re shocked. How could this be? Over at the Wall Street Journal, Daniel Klein tells us why Liberals/Progressives are not smarter than a 5th grader

Who is better informed about the policy choices facing the country—liberals, conservatives or libertarians? According to a Zogby International survey that I write about in the May issue of Econ Journal Watch, the answer is unequivocal: The left flunks Econ 101.

Zogby researcher Zeljka Buturovic and I considered the 4,835 respondents’ (all American adults) answers to eight survey questions about basic economics. We also asked the respondents about their political leanings: progressive/very liberal; liberal; moderate; conservative; very conservative; and libertarian.

What did they find?

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.

Americans in the first three categories do reasonably well. But the left has trouble squaring economic thinking with their political psychology, morals and aesthetics.

Really, no surprise. These are the same people who believe spending a trillion dollars on health care will lower the deficit somehow. Head on over to the article for the questions, which should have been simple, but, not in Liberal World.

Crossed at Right Wing News and Stop The ACLU

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15 Responses to “Survey Shows That On Economics, Those On The Left Are Idiots”

  1. John Ryan says:

    does this also mean that Blacks are idiots ?

  2. Larry says:

    Holy smokes. You went right to the race card on the first comment about a post that had nothing to do with race.

    :Impressive. Most Impressive. Obami-Won has taught you well.

  3. […] Survey Shows That On Economics, Those On The Left Are Idiots […]

  4. Otter says:

    Larry, racists like ‘lil Lying johnnie ryan and reasic / bunny, don’t know much more than to play the race card- it is far easier for them than trying to understand economics.

  5. captainfish says:

    … or to debate with reason.

  6. Bunny Colvin says:

    Racist? That’s a new one. Where did you ever get the idea that I’m a “racist”? I have African American extended family members (though not immediate offspring like that racist hypocrite Strom Thurmond). I have dated black women before. And asian women. How am I a racist? I volunteer with the United Way to assist lower income families in obtaining their EITC. Hardly the actions of a “racist”.

    As for not understanding economics, that is more of a laugher than even the Laffer Curve. I hold an advanced degree in finance and worked in the financial sector for five and a half years. I was trading MBS before most of you had even heard the term. Seeing that the roof was about to fall in on the house of cards that was the U.S. financial sector, I walked away in March of 2006. I sold every share of company stock in my possession. I pocketed about 55/share. A little over two years later, just before my old employer was aquired (more like thrown a life raft), these shares were trading at about 5 each.

    So Squatter, please tell me what it is that I don’t understand about economics. I’m all ears. Why don’t you start by defending the “efficient market hypothesis”? (If you even understand what that is).

  7. Bunny Colvin says:

    Oh and Squatter, when you are done researching EMH, please answer question number 5 of the WSJ survey. There exist, without question, instances where third world workers have been exploited by American companies. It may or may not be the “norm”, but failure to recognize the fact that such situations are brought to light from time to time is ridiculous. Those who fail to recognize this FACT are the real “unenlightened”.

    • Tom says:

      From the article you claim to have read:
      “Therefore, we counted as incorrect responses of “somewhat disagree” and “strongly disagree.” This treatment gives leeway for those who think the question is ambiguous or half right and half wrong. They would likely answer “not sure,” which we do not count as incorrect.”

      If your answer reflects that it is not the ‘norm’, you got it right. They allow wiggle room for those who think ‘sometimes’.

  8. gitarcarver says:

    number 5 of the WSJ survey.

    Sure thing. The question is: “A company with the largest market share is an monopoly.”

    There is no mention of “third world workers” in the question.

    Of course it is likely that you are talking about question 6, but that is the problem when you start talking about the ignorance of others and how you have some sense of superiority – something happens where you show that you cannot either count or read.

    How’s that glass house?

    Racist? That’s a new one. Where did you ever get the idea that I’m a “racist”?

    The comment concerning “racist” was directed toward Ryan. So either once again, you can’t read, or you are posting under two names.

    How noble of you.

  9. Bunny Colvin says:

    Oh, my mistake. Question number five (5) of the “other” questions. Wasn’t it you who suggested that Screech stay in L.A. until the 19th of May, GC? Talk about glass houses.

    “Larry, racists like ‘lil Lying johnnie ryan and reasic / bunny”

    As any English speaker can attest, the “comment concerning racist” was directed at both Ryan and myself. The giveaway is the word AND between “ryan” and “reasic/bunny”. Clearly (except maybe to an ESL student), the comment was directed toward both of us.

    Are you by any chance M.R.? Or are you just really stupid?

  10. gitarcarver says:

    Talk about glass houses.

    There ya go. Thanks again for demonstrating your lack of reading and comprehension skills.

    Are you by any chance M.R.? Or are you just really stupid?

    When you talk to yourself, you should not be near a keyboard because, as in this case, the thoughts you have of yourself may slip out into the real world.

  11. Bunny Colvin says:

    Good comeback, douchebag. Like it’s my fault that you don’t understand the meaning of the word “and”. And then you claim that I lack reading and comprehension skills. I will admit that there are a few fairly intelligent folks who comment on this board other than myself. (The Cap’n, Screech, Lee Thomas, even Trish). Then there are losers like you and Squatter who have nothing to say so you just try to catch spelling errors. Fucking idiots.

  12. Trish says:

    Bunny needs her mouth washed out- apparently with lye…
    My mother was right- when a person doesn’t have the knowledge to argue intelligently, they use foul language instead of proof. We should pity our baby Bunny.

  13. Bunny Colvin says:

    Trish- how can I be expected to argue intelligently with someone who doesn’t understand the meaning of the word “and”?

  14. Cornelius says:

    Look, I’m a libertarian too, but this study is biased beyond redemption. The questions are politically motivated and not at all helpful. I posted a response to this on my own blog: http://realdealecon.blogspot.com/2010/06/liberals-suck-at-economics.html

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