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tuhaybey

(76 posts)
Mon Jan 5, 2015, 01:23 AM Jan 2015

The Democrats' Economic Record Trounces the Republicans'

You can find a detailed review of the economic case for the Democrats here- http://politicsthatwork.com/blog/which-party-is-better-for-the-economy.php

Opinions of economists:

There are many different ways to assess the consensus of economists on policy issues. Much of the public believes that economists tend to be libertarian and to favor laissez faire economic policy. That idea- that economic wisdom favors leaving all things to the free market- is actually dead wrong. Economists generally tend to support policies at least as liberal as the policies the Democratic Party supports. Some examples:

• 71% of economists favor using government to redistribute wealth and only 8% strongly oppose it. In fact, the concept of the diminishing marginal utility of wealth is a very well established and non-controversial economic principle. Even Adam Smith expressed the view that the government should redistribute wealth.

• Only 12% of economists take the view that the costs of the stimulus outweighed the benefits- a view passionately held by nearly all Republicans.

• 75% of economists favor government tuning the economy with monetary policy- an idea often vehemently rejected by the Republican Party- while only 4% of economists strongly oppose it.

• Zero percent- not a single economist in the entire sample- of economists agree with the central tenant of Republican fiscal policy that cutting tax rates would boost the economy enough to cause revenues to increase.

• 94% of economists support taking action to address climate change.


Comparison of GDP growth- http://politicsthatwork.com/graphs/gdp-growth-by-party
Stock market performance- http://politicsthatwork.com/graphs/sp-500-performance-by-party
Unemployment- http://politicsthatwork.com/graphs/unemployment-rate-by-president

See the whole article here- Which party is better for the economy?
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