Signals are interpreted through a lens of class exposure.
Each signal carries has its specific effect.
Economic reasoning is structured, but unequally distributed.
Signals are interpreted through a lens of class exposure.
Each signal carries has its specific effect.
Economic reasoning is structured, but unequally distributed.
Not all voters process signals the same way:
– High-knowledge voters make more accurate and nuanced inferences
– High-income voters place more weight on stock markets
– Labor market position has surprisingly little impact
Not all voters process signals the same way:
– High-knowledge voters make more accurate and nuanced inferences
– High-income voters place more weight on stock markets
– Labor market position has surprisingly little impact
– Inflation strongly affects personal/national evaluations and vote choice
– Unemployment matters for all outcomes, but less consistently
– GDP influences national more than personal assessments
– Stocks influences personal evaluations, but matters less for voting
– Inflation strongly affects personal/national evaluations and vote choice
– Unemployment matters for all outcomes, but less consistently
– GDP influences national more than personal assessments
– Stocks influences personal evaluations, but matters less for voting
Voters distinguish who benefits and who suffers from different signals:
– Unemployment is seen as hurting the working class
– Inflation is seen as hitting both the working and middle class
– Stock markets are seen as primarily benefiting the rich
– GDP growth broadly positive.
Voters distinguish who benefits and who suffers from different signals:
– Unemployment is seen as hurting the working class
– Inflation is seen as hitting both the working and middle class
– Stock markets are seen as primarily benefiting the rich
– GDP growth broadly positive.
Voters have intuitive models of how the economy works. Many apply a “good-begets-good” heuristic:
When one signal improves, others are assumed to follow. But this isn’t always consistent with macroeconomic logic. High-knowledge = more likely to recognize tradeoffs.
Voters have intuitive models of how the economy works. Many apply a “good-begets-good” heuristic:
When one signal improves, others are assumed to follow. But this isn’t always consistent with macroeconomic logic. High-knowledge = more likely to recognize tradeoffs.