Elections 2020

2020 presidential election: a tale of two economies

Meghan McCarty Carino Nov 12, 2020
Heard on: Marketplace Morning Report
HTML EMBED:
COPY
A Trump-Pence campaign sign is seen in Westby, Wisconsin, in October. Kerem Yucel/AFP via Getty Images
Elections 2020

2020 presidential election: a tale of two economies

Meghan McCarty Carino Nov 12, 2020
A Trump-Pence campaign sign is seen in Westby, Wisconsin, in October. Kerem Yucel/AFP via Getty Images
HTML EMBED:
COPY

As we start to get the post-mortems on the election, it’s clear we are in a deeply divided country in many ways — including economically. A report from the Brookings Institution says counties where the majority of voters supported President-elect Joe Biden are responsible for a much bigger share of economic activity than those that supported President Trump.

In 2020, counties that voted for Biden were responsible for 70% of the country’s GDP, according to Mark Muro, author of the report and senior fellow at the Brookings Institution.

“So the two camps really are occupying very different worlds,” he said.

The mostly urban and suburban areas that voted for Biden have more high-wage, white-collar jobs, while the more rural Trump supporting areas rely on lower-wage industries like farming and manufacturing that aren’t growing as quickly.

“If you’re a rural resident, you’re seeing that economically, your type of community is struggling,” said Katherine Cramer, a political scientist at the University of Wisconsin-Madison.

But urban and rural fates are intertwined, said Roberto Gallardo, an expert on rural economic development at Purdue University.

“I think if one does not do well, the other one struggles as well,” he said.

Urban regions need the food, energy and goods produced in rural areas, which likewise depend on the consumer power and innovation of cities.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.