Tuesday, May 11, 2010

Progressives Don't Understand Economics...Big Surprise

Wes over at The Humble Libertarian has posted the link to an interesting study. The results found self-described Progressives to be quite ignorant about basic economics.

Some of the results:
  • 67% of self-described Progressives believe that restrictions on housing development (i.e., regulations that reduce the supply of housing) do not make housing less affordable.
  • 51% believe that mandatory licensing of professionals (i.e., reducing the supply of professionals) doesn’t increase the cost of professional services.
  • Perhaps most amazing, 79% of self-described Progressive believe that rent control (i.e., price controls) does not lead to housing shortages.
The conclusion:
'Those identifying as “libertarian” and “very conservative” were the most knowledgeable about basic economics. Those identifying as “Progressive” and “Liberal” were the worst.'
Check out Wes' full commentary here. (Btw, I had to use his picture...brilliant!)

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