66 Percent Of Voters Voted For 'None Of The Above'

What is an economist doing writing about an election? As a numbers guy, the statistics from the November 2014 mid-term election demands attention because of their implications for our economy and sustainability.

A lack of voter participation was the most telling statistic of this last election. Voter participation was a record low 33 percent. This means 66 percent of potential voters were so unmoved by the candidates and the issues that they did not participate. The obvious question (economic and political) is: Why did the majority of voters vote for 'none of the above?'

Boomers vs. millennials

The real news of election night was not about the Republicans or Democrats. It was the clear divide between the baby boomer and millennial generations. The boomer generation, especially the white boomer generation, actively participated in this election. Almost half the boomer generation voted, and their participation was more than half as large as any other age group. And the voters on Nov. 4, 2014 were predominately white, with 75 percent participation.

In comparison, the millennial generation skipped this election. Only approximately 1 in 1o millennials voted. Their participation was almost half of the participation by their older siblings and grandparents. Among the millennial generation it was unmarried women and minorities that most noticeably did not vote. The millennial generation members that did participation were also most likely to have voted for Republican Mitt Romney for president in 2012.

It’s the economy … politicians!

In terms of this election the economy was the most posted topic on Facebook. In most pre-election polls the issues of jobs and economic growth dominated as election night issues.

Based on voter participation, the millennial generation voted “no” to whether the political parties had answers to their issues of burdening school debt, limited job opportunity and barriers to homeownership. Neither party was viewed as being “cool with a purpose” in terms of sustainable economic or environmental solutions.

The boomer generation voted their pocketbooks as they always have. Their economic issues were lower taxes and increased economic growth. They continue to look to their government to grow the economy’s size to achieve lower taxes and secure their social security payments.

What this means for sustainability

Since my 2007 prediction of a green economic revolution the acceptance that adopting sustainable best practices will create profits, economic growth and jobs still struggles for voter and CEO traction. The encouraging news is that sustainability is now a CEO issue, but a recent Accenture study found it to be back-burner issue. The real CEO issue remains increasing quarterly profits and revenues. And for most CEOs a connection between sustainability and improving quarterly results is still missing.

This disconnect also exists among voters. The boomer and millennial generations could not be further apart on the issue of sustainability. For much of the boomer generation, sustainability is defined by increased regulation and taxes. For the millennial generation, sustainability is viewed as their future. They are buying more sustainable products and post about their sustainability on social media, but they are yet to flex their full political muscle on the issue.

Sustainable economics wins

The economic reality is that unsustainability is not sustainable. Global warming is a reality, and its costs on human health and our economy will grow. Investments in energy efficiency and renewable energy are sustainable solutions and these technologies will continue to gain global economies of scale and price competitiveness with fossil fuels.

An epidemic of obesity and diabetes is also a reality. The health care and environmental costs of an unsustainable industrial food system are very large and growing. Consumers are responding by making healthy convenience foods the fastest growing food market segment. As this market segment grows it will gain economies of scale that will increase its price competitiveness against industrial foods laced with sugar, starches and chemicals.

Fiscal responsibility is also a sustainability issue. We have a government that is funded by debt. Our national debt is almost $18 trillion or approximately $60,000 for every man, woman and child in America. Our tax system is so incomprehensible that 82 million American taxpayers pay to have a third party prepare and submit their tax forms. The system is so misshaped by special interests that the average actual corporate tax rate is approximately 12 percent, with major corporations like GE, Morgan Stanley and Verizon reporting single-digit tax rates for 2013.

A well understood economic concept is that there is no free lunch. At some point unsustainability will again result in another recession, damaging extreme weather event and health crisis. Sustainability is good for business, for our economy and job creation. At some point sustainability will be good politics. The question will be: How much pain will be required before we vote for a sustainable future?

Image credit: Flickr/dokidoki

Bill Roth is an economist and the Founder of Earth 2017. He coaches business owners and leaders on proven best practices in pricing, marketing and operations that make money and create a positive difference. His book, The Secret Green Sauce, profiles business case studies of pioneering best practices that are proven to win customers and grow product revenues. Follow him on Twitter: @earth2017