In a survey published by Scioto Analysis this morning, Ohio economists reported a mixed response to the claim that rising inequality in Ohio is slowing state economic growth.
While a slim majority of economists (14 of 26 respondents) agreed that rising inequality in Ohio is hampering economic growth, a substantial minority (8 of 26) were uncertain about the claim while four others flat-out disagreed with the claim. Those who agreed with the statement pointed to research literature suggesting inequality has an impact on economic growth through health impacts and impacts on consumer spending.
Among economists who were uncertain about the claim, some suspected inequality was reducing economic growth but were hesitant to make the claim without more evidence it is doing so. Some of these economists also were not sure how to define economic growth in this context.
The Ohio Economic Experts Panel is a panel of over 40 Ohio Economists from over 30 Ohio higher educational institutions conducted by Scioto Analysis. The goal of the Ohio Economic Experts Panel is to promote better policy outcomes by providing policymakers, policy influencers, and the public with the informed opinions of Ohio’s leading economists.