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Deciphering Economists

08/23/2022

I’ve spent almost two decades guessing whether the National Association of Business Economics (NABE) is conservative or progressive.  The membership of the competing American Economics Association consists of academics and is clearly progressive.  However, the NABE membership consists of working economists, and I think there is a mere 51% probability that NABE is also progressive.  Here are some examples from their most recent survey of members:

  1. 51% favor increasing the minimum wage (Advantage:  progressive)

  2. 52% are opposed to classifying gig workers as employees  (Advantage:  conservative)

  3. 48% expect the most important issue in our November election will be inflation but 20% think abortion will be?   (Advantage:  toss-up)

  4. Only 12% think we should release any more oil from our Strategic Petroleum Reserve  (Advantage:  conservative)

  5. 50.5% believe our fiscal policy (tax revenue & spending) is still too stimulative  (Advantage:  conservative)

Sounds about 50/50 between conservatives and progressives so far??

Drum roll, please — 69% favor the new 15% minimum corporate tax rate and 63% favor greatly increased climate control spending — both clearly progressive views.

Make that 51%/49% now!  (Advantage:  progressive)

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