Shocker… Far Left Progressives Have Low Levels of Economic Knowledge
Thanks to Matthew Yglesias for the story:
According to Zeljka Buturovic and Dan Klein, people who self-identify as “progressive” have low levels of economic knowledge whereas those who self-identify as “libertarian” or “very conservative” rank very highly. For reasons suggested by Tyler Cowen, I think that conclusion is nonsense. But I do think they have the goods on the fact that people who self-identify with the left have some trouble grasping the interplay of prices and supply restrictions.
If you ever doubted this just look at the economy since Obama took office.