Want a better economy? Vote Democratic
September 21, 2008 Leave a comment
The evidence for my titular proposition is actually quite strong and Michael Kinsley has been pushing it for years. Here's his latest in Slate:
There is no secret about any of this. The figures below are all from the annual Economic Report of the President,
and the analysis is primitive. Nevertheless, what these numbers show
almost beyond doubt is that Democrats are better at virtually every
economic task that is important to Republicans.
In other words,
there are no figures here about income inequality, or percentage of the
population with health insurance, or anything like that. This exercise
implicitly assumes that lower taxes are always good and higher
government spending is always bad. There is nothing here about how
clean the air is or how many children are growing up in poverty. The
only point is that if you find the Republican mantra of lower taxes and
smaller government appealing, and if you care only about how fast the
economy is growing, not how that growth is shared, you should vote
Democratic. Of course, if you do care about things like economic
inequality and children's health, you should vote Democratic as well…
Some people believe that the president has little or no effect on
the economy. If so, that would be a serious flaw in this exercise. But
it would also be a serious flaw in the exercise called democracy, since
people tell pollsters that the economy is the most important issue for
them in deciding whom to vote for. No doubt any particular bad year in
any of these statistics can be explained by some extrinsic special
event?a war, for example. But surely patterns that emerge over half a
century account for these. At some point, if Republicans or Democrats
tend to start more wars, and wars cost money, that can be a legitimate
part of the calculation.
Finally, as economist Greg Mankiw points out in his blog, reacting to a similar calculation
by Alan Blinder (both of them former chairs of the president's Council
of Economic Advisers), correlation is not causation. Maybe economic
statistics are better when the president is a Democrat for reasons
having nothing to do with the president's skill in handling the
economy. My own feeling about that is that as long as the pattern
continues, who cares why? Correlation will do just fine.
Shockingly, focus economic policy on allowing the rich to make as much money as possible with little direct emphasis on keeping middle class people working does not really work all that well. It would be nice if Republicans would learn their lesson on this. But, why listen to evidence when it contradicts your ideology?


