By Daniel Becker (DOLB)
Following up on Robert’s post which at it’s core is discussing the article: Economic Enlightenment in Relations to College-going….
I find it interesting (not alarming at all, at least not regarding the data) that the following combination is the ultimate economically enlightened member of society if you are:
very likely to vote next time, voted for McCain, libertarian, white, not Hispanic/Latino, a suburbanite, atheist/realist/humanist, born again, attend church multi times/ week, non union, married, consider America you residence, are military (or family in military), NASCAR fan, think your in the investor class, shop every week at Walmart, earn over $100K/yr, male.
One more thing based on their figure 2 chart: high school education or less. That group of educated had the highest economic enlightenment score. That group of educated had the highest economic enlightenment score. There is a bit of concern with this data piece considering two of their sited points:
The caveat that we see as most significant as pertains to the education variable is that the survey procedure likely tended to discourage low-IQ individuals from participation, thus artificially raising the observed economic enlightenment scores of the less educated groups…
Meanwhile, Caplan and Miller (2006)…find that “the estimated effect of education sharply falls after controlling for IQ. In fact, education is driven down to second place, and IQ replaces it at the top of the list of variables that make people ‘think like economists.’”
Do I dare suggest that they are finding that the most economically enlightened are the smartest people who never finished high school? You know, when I asked 2 years ago if we could try a different school of economic’s I did not realize the one we needed was the non-schooled school.
Interestingly enough, you are most unenlightened if you are
progressive and college educated along with being: not likely to vote, voted green party, identify Green, African American, Hispanic/Latino, large city dweller, no religious affiliation, not born again and never attend church, union, civil union/domestic partner, consider your home the planet earth (no other planet offered), not military, not a fan of NASCAR (should have asked about horse racing), not of the investor class, never shop at Walmart (guess the other big boxes don’t count), $25K or less/yr (and they don’t shop at Walmart?), female.
This is an amazing study. It managed to show that there are two groups of people in this nation whose thinking regarding money is totally reflective of the common cliche’s heard during the political season (which is a season with no ends) and are often applied slanderously. They have proven that the cliche’s are true! But, then why would I expect anything else from this considering the following commentary from their “scholarly” piece of work:
At least since the days of Frédéric Bastiat, many have said that people of the left often trail behind in incorporating basic economic insight into their aesthetics, morals, and politics. We put much stock in Hayek’s theory (Hayek 1978, 1979, 1988) that the social-democratic ethos is an atavistic reassertion of the ethos and mentality of the primordial paleolithic band, a mentality resistant to ideas of spontaneous order and disjointed knowledge. Our findings support such a claim,
Ok, this economic ignoramus needs to go to his flower shop now. God help me if it goes under. I should have never gone to college. It’s my mom’s fault too.