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Did Economic Literacy Influence Macroeconomic Policy Preferences of the General Public during the Financial Crisis?

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  • Brent A. Evans

Abstract

Based on survey data including residents of all fifty states, I provide an analysis on the relationship between economic education and policy recommendations of the American public during the financial crisis. Mirroring the methodological approach set forth in Walstad (1997), I find that economic literacy was correlated with three of the six policies studied. Specifically, economic literacy is positively correlated with support for decreased taxes and a smaller government, and negatively correlated with supporting a ceiling on CEO salaries. No other personal variable, including race, gender, income or educational attainment, is found to correlate with policy preferences as frequently as economic literacy. These findings corroborate with Walstad's results, which were based upon survey data compiled 18 years prior.

Suggested Citation

  • Brent A. Evans, 2015. "Did Economic Literacy Influence Macroeconomic Policy Preferences of the General Public during the Financial Crisis?," The American Economist, Sage Publications, vol. 60(2), pages 132-141, September.
    • Handle: RePEc:sae:amerec:v:60:y:2015:i:2:p:132-141
    DOI: 10.1177/056943451506000204
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    Cited by:

    1. Grace O. Onodipe & Amanda L. Wilsker & Mark A. Partridge, 2022. "Economic knowledge, political views, and Covid-19 related behaviors," Economics Bulletin, AccessEcon, vol. 42(2), pages 895-906.
    2. Paul W. Grimes & Kevin E. Rogers & William D. Bosshardt, 2021. "Economic Education and Household Financial Outcomes during the Financial Crisis," JRFM, MDPI, vol. 14(7), pages 1-12, July.

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