8/25/2011

Just 8 percent of Federal lawmakers majored in economics

A new study finds less than 10 percent majored in economics. Accounting is useful, but I am not sure that he tells you what needs to be done. From Fox News:

Congress might want to find some consultants as it tries anew to tackle the country's deep deficits. A report from the Employment Policies Institute finds that only one in five members of Congress has an academic background in business or economics.
The organization looked at lawmakers' college degrees and found that most of them -- 55.5 percent -- majored in either a government-related field or "humanities." Just over 8 percent majored in economics, while almost 14 percent studied business or accounting.
The numbers raise questions about their ability to tackle tough economic challenges when they return from break early next month. The Obama administration, as well as lawmakers touring their districts, are clamoring for a new approach to the jobs crisis. Meanwhile, a congressional "supercommittee" is set to get to work finding $1.5 trillion in deficit reduction over the next decade. . . .

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2 Comments:

Blogger Cory said...

John,

Even worse, I bet of those ~8%, all of them learned Keynesian economics for their degree and use that to make decisions with instead of Austrian school principals.

Honestly, it doesn't matter what your degree is in, if you're coming to the table with the ideal to get Federal funding or privilege specifically for your district. This is the mindset of almost every representative.

8/25/2011 8:45 PM  
Blogger Willy B Good said...

What is the difference between the Chicago School and the Austrian school? Aren't they both the same, but with different attitudes towards currency?

8/26/2011 8:23 PM  

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