Saturday, February 14, 2009

Mankiw Weighs In On Obama's Economic Team

Econ textbook dollar leader, Greg Mankiw, (His books sell for over $100 and are the most popular texts used at the college level, you figure out how many millions he is raking in.) explains Obama's econ team to Nina Easton at Business Week:


Team Obama doesn't mind leaving critics on the roadside because of an ├╝ber-confidence that the facts are on their side. Goolsbee, an economist who has been at Obama's side since day one of the campaign, likes to call the economic team "data dogs" who bring post-partisanship to policymaking because they are driven by evidence rather than ideology. But Greg Mankiw, the Harvard economist who chaired Bush's CEA for two years - and who counts many of Obama's picks as friends - offers a more politically charged label: Keynesians, after the British economist who championed interventionist policy. "They are extremely committed Keynesians," he says. "I hope they show the requisite humility that not all economists share their view."
Nice comment for a mainstream guy, not too harsh, but gets the point across.

As for the Obama Econ Team being "data dogs", puhleeze. Think Geithner's bailout presentation for what is really going on at this White House.

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