Conservative economics and delusions

For the last 30 years, the right has gotten most of what it wanted – lower taxes, weaker unions and less regulation. And yet macroeconomic performance – as measured by GDP growth per head – hasn’t improved. Their response to this has been a classic example of the backfire effect. As David McRaney says: “When your deepest convictions are challenged by contradictory evidence, your beliefs get stronger.”

http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2017/03/newt-troubles.html 29th March 2017

Chris

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