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Jan. 30th, 2008 12:43 pm"Dad? What's the difference between a Democrat and a Republican? Seriously. I know you said 'there have to be some babies dropped on their heads, otherwise there wouldn't be any Republicans', but what is the difference between them?"
Well, okay. To be serious and fair about it, I think you can boil down the difference in economic theory between Democrats and Republicans to this: Democrats care more about the median, and Republicans care more about the mean.
(Obviously they all care about both, and they all want both to go up.) That is, a Republican considers something a good policy if it increases the average amount of money a person makes, while a Democrat considers something a good policy if it increases the amount of money an average person makes.
He thought about that for a while. "Then we're Democrats, right? Good."
Well, okay. To be serious and fair about it, I think you can boil down the difference in economic theory between Democrats and Republicans to this: Democrats care more about the median, and Republicans care more about the mean.
(Obviously they all care about both, and they all want both to go up.) That is, a Republican considers something a good policy if it increases the average amount of money a person makes, while a Democrat considers something a good policy if it increases the amount of money an average person makes.
He thought about that for a while. "Then we're Democrats, right? Good."
