Posted by Todd Zywicki:
Greg Mankiw on the Youth Vote:
http://volokh.com/archives/archive_2008_11_02-2008_11_08.shtml#1226000843


   Greg Mankiw has a chart illustrating the dramatic drop in the youth
   vote for McCain versus Bush. He concludes:

     So what does the Republican Party need to do to get the youth vote
     back? If these Harvard students are typical (and perhaps they are
     not, as Harvard students are hardly a random sample), the party
     needs to scale back its social conservatism. Put simply, it needs
     to become a party for moderate and mainstream libertarians. The
     actual Libertarian Party is far too extreme in its views to attract
     these students. And it is too much of a strange fringe group. These
     students are, after all, part of the establishment. But a reformed
     Republican Party could, I think, win them back.

     Can the Republican Party move in this direction without losing much
     of its base? I have no idea, but for the GOP, that seems to be the
     challenge ahead.

   I'm still not sure what to make of the youth voters. [1]I noted
   yesterday that looking at the exit polls, it appears that the two most
   pro-Obama groups in the election were under-29 and 50-64 cohort, which
   roughly corresponds to Baby Boomers and their kids.

   One experienced political hand told me in an email that "youth are
   notoriously fickle" and that in his view it is just a matter of
   finding an attractive candidate (like Obama). And while that is likely
   part of it, it doesn't seem like the full story to me.

   If I had to guess, it wasn't just that Obama attracted young voters,
   it is also that George Bush had a dramatic negative effect in driving
   away young voters. In this sense, I think back to myself and my
   generation, attending college in the 1980s. At that time, my tendency
   toward libertarian/conservatism was as much a negative reaction to
   Jimmy Carter and liberalism as an attraction to Ronald Reagan and
   conservatism (as well as the influence of my parents).

   One final note--Mankiw notes that his students generally prefer free
   market economic policies and liberal social policies (which is why he
   sees them as libertarian). One thing to keep in mind is that today's
   recent college grads have been raised in an environment of about 25
   years of virtually uninterrupted economic prosperity, with some minor
   downturns, but nothing major. I suspect that this has contributed to a
   general lack of urgency on the economic issues relative to social
   issues and environmentalism. When I was a kid, the economy and my
   family finances were dominated by stagflation, gas shortages, and
   international decline (remember the Iran hostage situation and
   helicopters crashing in the desert?).

   I suspect that this backdrop has something to do with how people form
   their political beliefs. Today's students have been able to take
   prosperity and basically sound economic policies for granted (until
   recently, perhaps, but we are still well below the misery of the
   Carter years). So economics haven't been burning issues and so they've
   emphasized lifestyle and symbolic issues. When I was a kid, it didn't
   feel like we could take economic prosperity for granted, and that was
   something that dominated our worldview. The real question becomes what
   happens if economic times become more challenging or if efforts on
   environmental regulation substantially impact economic prosperity (as
   [2]Bill Niskanen suggests). Not to mention the fact that this looks
   like a vote to put off for at least another four years the ticking
   time bomb of Social Security and Medicare (Niskanen again). My hope
   for the good of the country, of course, is that we won't confront a
   major economic slowdown that forces a renewed focus on economic
   issues.

   I have no idea what this means for the future of the youth vote. But
   if it means that the Republican Party (and I hope the Democrats too)
   move in a more libertarian direction, then sign me up.

References

   1. 
http://www.volokh.com/archives/archive_2008_11_02-2008_11_08.shtml#1225920307
   2. 
http://www.forbes.com/opinions/2008/11/05/libertarian-election-issues-oped-cx_wan_1106niskanen.html

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