Do people think for themselves on economics?
OK, there are two purposes of this post. Least important is to try out my ability to make an html table. I should keep on doing that until I get it right, so you may or may not notice if I screw it up.
More importantly I'd like to bring up the subject of people believing what they are told. For example during the recent election season (which seems to keep getting longer, but that's neither here nor there) Unemployment Figures were the same (and in fact some months actually lower) as when Bill Clinton was running for re-election. In 1996 5.4% unemployed was called "Full Employment". Right now (both August and September, ) the rate is the same but the state of the economy and job prospects are described as dismal. Unemployment in the US has been in the 5.3 - 5.6% range all year. The 5.5% for October is still lower than the average for the 1970's, 1980's, and 1920's. Our unemployment is also lower than almost all other industrialized nations (Japan is a bit ahead of us, I think). Is that the way our economy is portrayed?
One of the things I wondered about this year while listening to people bemoan the horrible Bush economy was why they were not being asked a different sort of question. Recently the annual Harris "Feel Good Index" was published. The numbers came out after the election but data was collected three weeks before the election. So while the Harris Poll had no effect on the election it was largely unaffected by its outcome as well. If my table worked out, you will find below this year's results. On my copy (which I cut out of the newspaper) I immediately marked the two lines that are in bold here:
"Next, we'd like to know whether or not you feel good about various things in this country and in your life. Do you feel good about (READ EACH ITEM), or not?"
Your relations with your family - 98%
Your home - 95%
The quality of your life overall - 92%
Your social life - 91%
Your health - 88%
Your standard of living - 85%
The city, town or county in which you live - 84%
The morals and values of people in your community - 77%
The quality of the air, water and environment where you live and work - 71%
Your marriage, if you are married - 66%
Your children’s future - 63%
Your financial security for the future - 62%
Your job if you have one - 60%
The state of the nation - 55%
The morals and values of Americans in general - 55%
The nation’s economy - 43%
FEEL GOOD INDEX - 73%
Harris Poll of 1,016 adults conducted Oct. 14-17.
So, does anyone else see a disconnect when 85% of the people feel good about their own standard of living but only 43% feel good about the nation's economy? Respondents obviously know what they are talking about when asked about their own personal economy. Are they just believing Chicken Little to give them such a dim outlook for the nation as a whole?
More importantly I'd like to bring up the subject of people believing what they are told. For example during the recent election season (which seems to keep getting longer, but that's neither here nor there) Unemployment Figures were the same (and in fact some months actually lower) as when Bill Clinton was running for re-election. In 1996 5.4% unemployed was called "Full Employment". Right now (both August and September, ) the rate is the same but the state of the economy and job prospects are described as dismal. Unemployment in the US has been in the 5.3 - 5.6% range all year. The 5.5% for October is still lower than the average for the 1970's, 1980's, and 1920's. Our unemployment is also lower than almost all other industrialized nations (Japan is a bit ahead of us, I think). Is that the way our economy is portrayed?
One of the things I wondered about this year while listening to people bemoan the horrible Bush economy was why they were not being asked a different sort of question. Recently the annual Harris "Feel Good Index" was published. The numbers came out after the election but data was collected three weeks before the election. So while the Harris Poll had no effect on the election it was largely unaffected by its outcome as well. If my table worked out, you will find below this year's results. On my copy (which I cut out of the newspaper) I immediately marked the two lines that are in bold here:
"Next, we'd like to know whether or not you feel good about various things in this country and in your life. Do you feel good about (READ EACH ITEM), or not?"
Your relations with your family - 98%
Your home - 95%
The quality of your life overall - 92%
Your social life - 91%
Your health - 88%
Your standard of living - 85%
The city, town or county in which you live - 84%
The morals and values of people in your community - 77%
The quality of the air, water and environment where you live and work - 71%
Your marriage, if you are married - 66%
Your children’s future - 63%
Your financial security for the future - 62%
Your job if you have one - 60%
The state of the nation - 55%
The morals and values of Americans in general - 55%
The nation’s economy - 43%
FEEL GOOD INDEX - 73%
Harris Poll of 1,016 adults conducted Oct. 14-17.
So, does anyone else see a disconnect when 85% of the people feel good about their own standard of living but only 43% feel good about the nation's economy? Respondents obviously know what they are talking about when asked about their own personal economy. Are they just believing Chicken Little to give them such a dim outlook for the nation as a whole?