Study Finds That 8 in 10 Lawmakers Lack Economics Education

Study: 8 in 10 pols lack econ ed
By: Mackenzie Weinger, Politico
August 23, 2011 02:27 PM EDT

Almost 80 percent of lawmakers might need to crack open an economics textbook before the congressional recess ends, a new study on Tuesday suggests.

The vast majority of members lack an academic background in business or economics, according to a study by the Employment Policies Institute, a non-profit group that takes a conservative stand on fiscal issues. Just 13.7 percent majored in business or accounting, and 8.4 percent have an economics degree.

“How many members of Congress have an academic background that provided them with a basic understanding how the economy works? The answer, it turns out, is not many,” the report concluded.

On the Senate budget committee, five out of 23 members — about 20 percent — have a business/accounting or econ background, EPI research fellow Michael Saltsman told POLITICO.