"That's not how it works": economic indicators and the construction of partisan economic narratives. Issue 2 (3rd April 2017)

• Record Type: Journal Article
• Authors: Anson, Ian G.
• Is Part Of: Journal of elections, public opinions & parties. Volume 27:Issue 2(2017)
• Page Start: 213
• Page End: 234
• Publication Date: 2017-04-03
• Subjects: Elections -- Great Britain -- Periodicals; Political parties -- Great Britain -- Periodicals; Public opinion -- Great Britain -- Periodicals; Great Britain -- Politics and government -- 1945- -- Periodicals; 324.941086005
• DOI: 10.1080/17457289.2016.1215319
• Languages: English
• ISSNs: 1745-7289

Abstract

ABSTRACT: This study examines the processes through which partisans update their (biased) economic judgments during periods of mixed and asymmetric economic performance. I show evidence that citizens express relatively unbiased perceptions of the movement of the stock market, suggesting that partisans do not engage in processes of motivated reasoning when reporting judgments of widely available economic data. Instead, partisans respond to fluctuations in stock market performance by revising their assumptions about the way the economy works: in response to positive or negative developments, the stock market is perceived to be more or less important for the health of the broader US economy depending upon Americans' partisan worldviews. This form of biased narrative construction has substantial importance in light of a "two-speed" post-Great Recession economy.