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Economics Lecture Eight (view source)

Revision as of 18:30, October 27, 2009

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→‎Example 1: Economic Insights to Politics

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== Example 1: Economic Insights to Politics ==

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<campaign ~~spending divided by votes obtained>~~

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Next Tuesday is Election Day, and this is a good time to see if we can apply insights from this court to understanding and predicting election outcomes.

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Economics affects election outcomes in two ways. First, many people vote based on how they are personally doing economically. Voters who recently lost their job are more inclined to be angry about the incumbents (the politicians currently in power). Those voters may choose not to vote for the incumbent, either by not voting at all or by voting for the opponent.

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Second, the side that spends the most money in a political campaign usually wins.

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