Wednesday, May 14, 2014

Ignorance of an Economic Miracle

It’s mighty popular to bad mouth the economy, isn’t it?

That goes hand-in-hand with ignoring economic miracles. That’s sensible: if you’re predisposed to saying everything is bad, you’d need to suppress anything that’s good.

This blog has harped a bit on the situation in North Dakota over the last few years. Go ahead: put “North Dakota” in the search bar at the right, and notice the pages of hits it produces.

So, Carpe Diem points out that the final question on Jeopardy the other day was:

Between 2006 and 2013 it went from 39th to 6th in per capita income and its unemployment rate dropped to the nation’s lowest.

The contestants answers were: Texas (a pretty good answer), Arizona (a horrible one, since this was one of the hardest hit states in the Great Recession), and North Dakota.

To me, 1 in 3 speaks volumes about macroeconomic ignorance.

It doesn’t help that Obama hasn’t been to North Dakota since the 2008 campaign, and rarely mentions the state. Very liberal Democratic Senator Byron Dorgan can’t even get him to visit:

I would encourage him to go out. … You've got to see it to believe it.

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