Study Links Economic Knowledge to Support for Globalization Policies
5 reported
A recent book by Beatrice Magistro examines the relationship between economic knowledge and policy preferences. The book reports that economic knowledge consistently predicts higher support for welfare-enhancing policies such as Eurozone membership, free trade, and EU immigration. This effect holds regardless of whether individuals stand to gain or lose from globalization, challenging conventional self-interest accounts. The author also finds that economic knowledge predicts a lower discount rate, even after adjusting for years of education. The source article notes that the author’s perspective on these issues has shifted over time, now attributing more of the effect to sociological expectation, perceived obligation, conformity, and signaling pressures.
What’s reported
The book is titled “Who Thinks Like an Economist?” by Beatrice Magistro.
Economic knowledge predicts higher support for Eurozone membership, free trade, and EU immigration.
This support is independent of whether individuals stand to gain or lose from globalization.
Economic knowledge also predicts a lower discount rate, even after adjusting for years of education.
The source article’s author states their perspective has shifted from attributing the correlation to wisdom to emphasizing sociological expectation, perceived obligation, conformity, and signaling pressures.
Key figures
Beatrice Magistro, author of the book “Who Thinks Like an Economist?”
Sources: marginalrevolution.com
