Posted by: A. C. Cockerill | December 11, 2015

Picoblog Question – 2015 – Post #77

Picoblog Question – 2015 – Post #77

What are the two biggest economics mistakes politicians make?

My two cents, but please share yours:

  1. Failing to look beyond the here and now to see the long-term consequences of their policies.
  2. Failing to look beyond the group of individuals they are trying to help to see the other group of individuals who will be harmed by their policies.
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Responses

  1. I agree with both of those. Our short-term knee-jerk decision-making is disastrous. And wow are we going to pay for it in war, poverty, and pollution.

    • The problem, D. Wallace, is that often the negative consequences are harder to see. It’s easier to see the project that got funded and helped some folks, harder to see the project that never got funded that hurts even more folks. Cheers, Ashley

  2. I agree with both your statements, Ashley. I also think one reason we don’t have better government is that too many voters vote whatever they think is best for their own pocketbooks at that moment, and they don’t understand the long-term effects of economic policy. That allowed Clinton to take credit for the prosperity produced by Ronald Reagan, which Bush was blamed for the downturn produced by Bill Clinton.

    • It would indeed be better, David, if voters understood what drives the economy up or down, and what drives the job market as well. Cheers, Ashley

  3. Wow great answers!

    • Thank you so much, Catherine. Cheers, Ashley


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