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Study Confirms: The Left Doesn't Understand Economics

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From his article: "adjusting for bias and groupthink is not so easy...." Based on my own small experience, I'd say its near to impossible. This was a good retraction and follow-up though. It may have been "simple economics," whatever that means, but it was lousy social science.

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I hate to dig up an old thread, but I stumbled into this piece by the original author that I thought was relevant here: I Was Wrong, and So Are You
I just briefly skimmed the retraction, but if he is trying to say libertarians aren't the smartest group---I'm not buying. :D

I read the article in it's entirety. First, kudos to a political commentator who comes forward to refute his own work. Secondly, he's exactly right in his conclusion that people's responses to survey questions are likely to be skewed by the presentation of the question and the available answers. I believe everyone's political ideals are formed by their experience and personal situation. I believe ideology is a result of life-experience. I just can't believe it took any number of studies for someone to realize this. :lol: And FKY...you are now jumping into elitist territory. :p

I read the article in it's entirety. First, kudos to a political commentator who comes forward to refute his own work. Secondly, he's exactly right in his conclusion that people's responses to survey questions are likely to be skewed by the presentation of the question and the available answers. I believe everyone's political ideals are formed by their experience and personal situation. I believe ideology is a result of life-experience. I just can't believe it took any number of studies for someone to realize this. :lol: And FKY...you are now jumping into elitist territory. :p
I work with too many Trinity graduates...it rubs off on you. :D

I may be paraphrasing, but according to the follow-up study, 40% of conservatives do not believe that a dollar is more important to a poor person than to a rich person.

 

Talk about not understanding economics. lol.gif

 

 

 

In all seriousness, what RM and GS said.

I maintain that liberals still don't understand much of anything.

I may be paraphrasing, but according to the follow-up study, 40% of conservatives do not believe that a dollar is more important to a poor person than to a rich person.

 

Talk about not understanding economics. lol.gif

 

 

In all seriousness, what RM and GS said.

 

 

McPapa...you get a rise out of me with this one. I consider myself to be neither rich nor poor. However, I own a small company and employ many people that are coming from troubled backgrounds. One thing that is consistently amazing is that almost to a person, they are only worried about a dollar they have, and when they get it, it is not spent in ways that many of us consider wisely...cigarettes are a high priority, junk food is a high priority for example. Another point....once the paycheck is in hand, it is a high possiblity that work will be missed the next day when there would be an opportunity to get ahead and generate savings....it is just not a priority. So, my conclusion, the dollar IS a higher priority for a "rich" person, and that is how they got that way.

Doesn't sound like it refutes the original claim, it just adds conservatives to the growing list of those who don't understand economics.

McPapa...you get a rise out of me with this one. I consider myself to be neither rich nor poor. However, I own a small company and employ many people that are coming from troubled backgrounds. One thing that is consistently amazing is that almost to a person, they are only worried about a dollar they have, and when they get it, it is not spent in ways that many of us consider wisely...cigarettes are a high priority, junk food is a high priority for example. Another point....once the paycheck is in hand, it is a high possiblity that work will be missed the next day when there would be an opportunity to get ahead and generate savings....it is just not a priority. So, my conclusion, the dollar IS a higher priority for a "rich" person, and that is how they got that way.
As someone who runs/operates a small business, your experience mirrors mine.
As someone who runs/operates a small business, your experience mirrors mine.

 

It is a matter of understanding the cycle of poverty. When you live hand to mouth, there really is no way to get ahead.

^ Exactly. I'm guessing that if these folks cut back on their cigs and their drinks, they wouldn't all of a sudden become millionaires.

 

I still contend that a dollar is as important if not more so to a poor person as opposed to a rich person. Maybe Kentucky Best smokes and Bud Light are more important to someone caught up in generational poverty than beluga and Dom Perignon are to the upper crust.

 

Hey, I'm all for the Protestant work ethic here. But it seems to me that the gap between rich and poor - and even between rich and middle-class - is growing rather than shrinking.

 

Sorry, I'm rambling. Massive doses of cold medicine aren't helping my lucidity.

It is a matter of understanding the cycle of poverty. When you live hand to mouth, there really is no way to get ahead.

 

Major horse manure. Spend only for the basics and right now it would be tough, but get a second job.

My grandfather bought the farm I grew up on in 1932. Over the years he eventully bought more land and started an excavation company that employed 6 people.

While raising 6 children. Its tough, but it can be done.

Major horse manure. Spend only for the basics and right now it would be tough, but get a second job.

My grandfather bought the farm I grew up on in 1932. Over the years he eventully bought more land and started an excavation company that employed 6 people.

While raising 6 children. Its tough, but it can be done.

 

Let's see ... farm ... 1932 ... six kids. Which means land for livestock to graze upon and land to plow for crops, as well as a built-in supply of free labor.

 

I got news for you -- poor folks living in Section 8 housing don't really have those same opportunities your grandfather had. Not much available land for tilling in the projects.

Let's see ... farm ... 1932 ... six kids. Which means land for livestock to graze upon and land to plow for crops, as well as a built-in supply of free labor.

 

I got news for you -- poor folks living in Section 8 housing don't really have those same opportunities your grandfather had. Not much available land for tilling in the projects.

 

And it ain't 1932.

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