In support of Barry Goldwater in 1964, then citizen Ronald Reagan in his national coming out speech made many memorable and timeless remarks about the power of conservatism and liberty. On of my favorite lines in “The Speech” as it is know by students of the Gipper is: “the trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.”
In today’s Wall Street Journal, George Mason economics professor Daniel Klein examines the Gipper observation and applies it to economics in a piece entitled “Are You Smarter Than a Fifth Grader.” The bottom line in this piece which is based on academic article is that liberals tend to have a poor understanding of basic economics than others across the political spectrum. To most us this is not really a surprise, but it nice to have a rigorous study to demonstrate that. Professor Klein writes that this is due to the fact that “the left has trouble squaring economic thinking with their political psychology, morals and aesthetics.”
- The Professor
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