A Generation in the Balance
By ROSS DOUTHAT
NYT
Do downturns create Democrats? The Great Depression certainly did: The generation that came of age in the 1930s has cleaved to the Democratic Party like no population before or since. And it makes intuitive sense that experiencing a recession at a formative age could inspire lifelong sympathy for the party of the welfare state and lifelong suspicion toward the party of free markets.
In a recent paper, “Growing Up In a Recession,” Paola Giuliano, an assistant professor of economics at U.C.L.A., and Antonio Spilimbergo, an economist at the International Monetary Fund, offer statistics to back this intuition up. Looking at over 40 years of survey data, the authors report that Americans who experienced “macroeconomic shocks” between the ages of 18 and 25 were more worried about poverty and inequality across their voting lives, and more skeptical about the wisdom of the market.
These findings track with the results of the 2008 election, when a cratering economy helped Barack Obama win an extraordinary landslide among young and first-time voters. And they provide grist for the liberal hope that the rising generation will prove as enduringly Democratic as that of their Depression-era grandparents, with George W. Bush playing Herbert Hoover to Obama’s F.D.R.
But the study shouldn’t make liberals too cocky. The authors find that growing up in a recession can encourage conservative instincts as well. Downturns make young voters distrustful of unfettered capitalism, yes. But they also make them less confident in the federal government.
(Continued here.)
NYT
Do downturns create Democrats? The Great Depression certainly did: The generation that came of age in the 1930s has cleaved to the Democratic Party like no population before or since. And it makes intuitive sense that experiencing a recession at a formative age could inspire lifelong sympathy for the party of the welfare state and lifelong suspicion toward the party of free markets.
In a recent paper, “Growing Up In a Recession,” Paola Giuliano, an assistant professor of economics at U.C.L.A., and Antonio Spilimbergo, an economist at the International Monetary Fund, offer statistics to back this intuition up. Looking at over 40 years of survey data, the authors report that Americans who experienced “macroeconomic shocks” between the ages of 18 and 25 were more worried about poverty and inequality across their voting lives, and more skeptical about the wisdom of the market.
These findings track with the results of the 2008 election, when a cratering economy helped Barack Obama win an extraordinary landslide among young and first-time voters. And they provide grist for the liberal hope that the rising generation will prove as enduringly Democratic as that of their Depression-era grandparents, with George W. Bush playing Herbert Hoover to Obama’s F.D.R.
But the study shouldn’t make liberals too cocky. The authors find that growing up in a recession can encourage conservative instincts as well. Downturns make young voters distrustful of unfettered capitalism, yes. But they also make them less confident in the federal government.
(Continued here.)
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