Monday, June 14, 2010

Scary thought today.

About a week ago the Wall Street Journal did a survey of 5000 adults on 8 basic economics questions. The survey ask 8 simple questions like "Mandatory licensing of professional services increases the prices for those services" and the person had 5 choices; Strongly Agree, Agree, Neutral, Disagree, and Strongly Disagree. The interesting thing is the survey only counted those answers that were incorrect. And then they broke the respondents into political groups. Conservative, Libertarian, Moderate, Progressive and Liberal.

Not surprisingly those adults who classed themselves as Progressive and Liberal couldn't get 3 out of the 8 questions correct.

I remember reading about the survey last week and it wasn't till today that the scary thought hit me.

These types who can't figure out 8 simple economic relationships are the people who are running our economy right now!

1 comment:

Crucis said...

They are also the ones teaching our children. It's not just educational malfeasance of college profs, it's all the way down to Kindergarten.