Correlation of economic data and party of government
Posted by Mark Coster on 21/01/2010 5 comments
If economic data such as GDP growth, unemployment rates and property prices were correlated with the party of government, this would allow voters in this years election to make a more informed choice about which party was likely to provide a higher standard of living.
Comments (5)
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re Correlation of economic data and party of government
correlation is not causation. areas with poorer folk [relatively or absolutely] are likely to vote for political parties favouring support for the poor/redistribution of income. besides, people do already vote based on their perceptions of parties' economic competence over previous periods. both the major parties have presided over periods of rising unemployment and recessions, which are sometimes tho not always due to worl events such as oil price shocks. At a national level the data is readily available; at a local level the economic data is available for unemployment and as part of the indices of deprivation, but simply correlating will be misleading because there are national factors at work - for example the increased poverty and unemployment in areas basec on manufacturing from the 1970s.
the idea that an app with simple correlations of the sort suggested would be a useful tool without the accompanying history and political context, is foolish and misinformed.
It's a nice idea but one
It's a nice idea but one problem is that it wouldn't show time lags. Thatcher made economic choices which benefit us today and (contrary to popular belief) Labour has introduced policies that will benefit whoever is in office next.
All this would do is muddy the water. Investment (especially in education) can take 10+ years to be shown in economic data.
Also no party couldn't have actually avoided recession so the figures would reflect negatively on a party which has only performed as well as the others would have.
Nice Idea "And"?
'Time-lag' and 'mud' are valid comments, but do not - to me - discredit the concept of illuminating data by correlations: who was responsible for what?
Time-lag ought not to be difficult; folk brighter than I am do it all the time with leading/lagging indicators. Mud then becomes the stuff of argument - including whether - your example - which educational investment took 10 years to bear fruit and which five.
What I am making a meal of saying is "Can someone suggest how this 'nice idea' be made to work?"