Editore"s Note
Tilting at Windmills

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October 5, 2008
By: Hilzoy

by hilzoy

From The Economist:

"A survey of academic economists by The Economist finds the majority -- at times by overwhelming margins -- believe Mr Obama has the superior economic plan, a firmer grasp of economics and will appoint better economic advisers. (...)

Eighty per cent of respondents and no fewer than 71% of those who do not cleave to either main party say Mr Obama has a better grasp of economics. Even among Republicans Mr Obama has the edge: 46% versus 23% say Mr Obama has the better grasp of the subject. "I take McCain's word on this one," comments James Harrigan at the University of Virginia, a reference to Mr McCain's infamous confession that he does not know as much about economics as he should."

Some of their data:

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It's even more striking when you look at some of the internals. The economists rated Obama's plan to deal with the housing and economic crisis 1.1 points higher than McCain's, on a five point scale; economists who describe themselves as not affiliated with either party rated it .6 higher. Economists as a whole rated Obama's tax plan nearly 1.1 points higher than McCain's; unaffiliated economists rated it nearly .7 points higher. On fiscal discipline, economists as a whole rate Obama a full point higher; unaffiliated economists rate him .55 points higher.

Predictably, Obama dominates on topics like reducing income inequality and reducing the number of people without health insurance. But he also crushes McCain on reforming financial regulations: economists as a whole rank him 1.3 points higher than McCain, while he leads among unaffiliated economists by nearly a full point (and is almost tied with McCain among Republicans.)

My only question: who are those eleven economists (7.8% of the total) who think McCain has a better grasp of economics than Obama?

Hilzoy 12:28 AM Permalink | Trackbacks | Comments (25)
 
Comments

Uh, Phil Gramm?

Posted by: John Sully on October 5, 2008 at 12:50 AM | PERMALINK

I wonder what Sarah will think when she leafs through her latest The Economist.

Posted by: spartikus on October 5, 2008 at 12:52 AM | PERMALINK

Every profession has their morons. Be the same as that 1 out of 50 nutritionist who believes that eatin McDonalds every other day is part of a healthy diet.


BTW, I might not consider them my financial advisers but I certainly would like to play high stakes poker with them. That kind of dumb thinking is always welcome at a poker table. Yes a pair of twos is a good hand. Heh.

Posted by: Former Dan on October 5, 2008 at 12:54 AM | PERMALINK

@spartikus

Sarah sez: "What's the Economist? Is it like People Magazine?"

Posted by: Former Dan on October 5, 2008 at 1:03 AM | PERMALINK

who are those eleven economists (7.8% of the total) who think McCain has a better grasp of economics than Obama?

Whoever they are, they are in league with the one dentist who doesn't recommend Trident for their patients who chew gum.

Posted by: Bob Loblaw on October 5, 2008 at 1:05 AM | PERMALINK

Tired: It's the economy stupid.
Wired: It's the middle class stupid.

That is it. That is all of it. A bollixed economy may be the only way a Dem can win the presidency.

Read this Science blog post: This is your brain on politics to get a hint of where I am coming from. It's a tough read. Very dense. I printed it out and have read it three times. It doesn't leave you with much genetic faith in democracy. Be that as it may, here is the money quote:

Westen said in his book The Political Brain that only when asked about the economy did people sway from their opinions. "There we found some connection to reality, but it was still swamped by their feeling about the incumbent party and whether that party was theirs," he says. What's more, Westen believes that we become even more partisan as we age because we are faced with partisan decisions again and again.

People only vote rationally when the economy has them flat on the ground and with a spear at their heart...


Posted by: koreyel on October 5, 2008 at 1:21 AM | PERMALINK

The Maverick Magic Show

Who is kidding who, that Maverick Straight shoot’ in root’ in toot’ in, he's a high-falutin', McCain and western folks all know, Out in Arizona Where the bad men are, Son-of-a-gun from Arizona, and the only friend to guide you Is an evening star like Winky, Winky, Sarah, Sarah can ride a Horses Ass hard, McCain sure knows his ass is side saddled at every rally as Sarah puts lip stick on that swift steed.

Sarah can make Pit Bulls and a Horses Ass look so pretty you would think you’re at a hockey game in New York city. What, yep.

So don’t worry about the economy Sarah is bring ‘in her lip stick and you better be careful she has a trigger finger.


Posted by: Megalomania on October 5, 2008 at 1:23 AM | PERMALINK

The eleven economists are from Alaska.

Posted by: JB on October 5, 2008 at 1:56 AM | PERMALINK

The eleven were once men, but become entrapped by the Dark Lord's rings, and are now economists at Chicago.

Posted by: Tim on October 5, 2008 at 4:59 AM | PERMALINK

I am not surprised Obama has a better plan than McCain, but that Economist decided to publish it.

Posted by: Ravi on October 5, 2008 at 5:17 AM | PERMALINK

"who are those eleven economists (7.8% of the total) who think McCain has a better grasp of economics than Obama?"

The ones that graduated from Falwell's Liberty University School of Economics?

Posted by: Nick Nayme on October 5, 2008 at 5:17 AM | PERMALINK

Just saw the Palin terrorist clip on the BBC website. She's a demagogue alright. All happy talk and police authority. I'm reminded of Randy Newman's Jolly Coppers on Parade. If this power junkie ever breaks out of Alaska, it might as well be made the national anthem.

Posted by: Jassalasca Jape on October 5, 2008 at 6:11 AM | PERMALINK

"who are those eleven economists (7.8% of the total) who think McCain has a better grasp of economics than Obama?"

The same economists who signed this open letter back in Feb 2003

Dear President Bush:

We enthusiastically endorse your economic growth and jobs proposal. It is fiscally responsible and it will create more employment, economic growth, and opportunities for all Americans. Moreover, it will improve corporate accountability and strengthen the nation's international competitiveness.
Sincerely,

Posted by: John Henry on October 5, 2008 at 6:58 AM | PERMALINK

Grandpa doesn't even carry the checkbook in his family and doesn't know how many houses the Beer Queen owns. This flaccid old fool only wants to KILL, KILL, KILL!

Posted by: The Conservative Deflator on October 5, 2008 at 7:46 AM | PERMALINK

I'm guessing they didn't poll many economists from Zimbabwe, since its economy is the Republicans' El Dorado.

Posted by: Danp on October 5, 2008 at 7:50 AM | PERMALINK

>So don’t worry about the economy Sarah is bring ‘in her lip stick and you better be careful she has a trigger finger.

You betcha! Also.

Posted by: doesn't matter on October 5, 2008 at 8:35 AM | PERMALINK

When I was in the Marine Corps in the late 1950s, it was absolute military doctrine that in any exercise 10% would screw up. I have found that to be true outside the military. Remember, in national polls, about 25% still give Bush a satisfactory approval rating. And 20% think Palin is ready to take on the job of being president immediately. Economists, at 7.8%, are way better than the national average on most questions.

Posted by: EL on October 5, 2008 at 10:04 AM | PERMALINK

who are those eleven economists (7.8% of the total) who think McCain has a better grasp of economics than Obama?
Advisers to President Bush

Posted by: Lew Scannon on October 5, 2008 at 10:18 AM | PERMALINK

I'veconcluded that the most remarkable thing any candidate has said during this election cycle is John McCain saying that economics is something he doesn't understand as well as he should.

McCain chaired the Senate Commerce Committee, and is still a member of it. He has admitted not understanding the issues that committee deals with. Can ou imagine if a candidate for president (say, Richard Lugar), who had served as chair of the Senate Foreign Relation Committee, said he didn't really have a very good grasp of international relations? Can you imagine the media frenzy over that?

Yet McCain's comment about his ignorance of something he has presumably been actively involved with as a Senator for more than a decade has drawn very little real commentary. He didn't do his job as a senator. Why sould we trust him to do his job if he were to become president?

Posted by: Donald A. Coffin on October 5, 2008 at 10:56 AM | PERMALINK

koreyel at 1:21 a.m. - Yes, that should be evident with McCain holding on to a 45% support level despite his own meltdown. Forget about the 7.8% of the deluded economists. It's the 45% of the people that's killing us. Never has there been a more propitious moment for Democrats since the Great Depression. And what have we got? A neck-and-neck horse race for the presidency.

We have two Americas - red and blue - and it just seems to become more so every day. But it's not just a status quo. We've been dragged inexorably to the right during this struggle.

If Obama wins, there will be no second New Deal. He won't even try. He can only dig his feet into the sand and slow the drift to the right for a while.

Posted by: hark on October 5, 2008 at 11:19 AM | PERMALINK

Gee. I bet Sarah quits reading the Economist now.

Posted by: Jeff II on October 5, 2008 at 12:30 PM | PERMALINK

"Who are those eleven economists?" Probably from the University of Chicago, interviewed while worshipping at the statue of Milton Friedman in the Quad.

Posted by: ericfree on October 5, 2008 at 12:31 PM | PERMALINK

Academic economists > liberal > recommend liberals.

Posted by: Luther on October 5, 2008 at 1:15 PM | PERMALINK

"Academic economists > liberal > recommend liberals."

Posted by: Luther

As opposed to those small town, hockey mom / joe six-pack economists, right?

Posted by: on October 5, 2008 at 1:20 PM | PERMALINK

Equally interesting is the partisan division of those economists. According to the graph, only about 14% are Repubs, with the rest divided almost equally between Dem and Indy. I wonder whether we would now be more, or less screwed, had there been more Repub economists in academia.

Posted by: exlibra on October 5, 2008 at 5:11 PM | PERMALINK




 

 
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