Comments on: Obama and Bush Economic Advisors Compared http://www.outsidethebeltway.com/archives/obama_and_bush_economic_advisors_compared/ Online Journal of Politics and Foreign Affairs Thu, 26 Nov 2009 17:28:09 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: steve http://www.outsidethebeltway.com/archives/obama_and_bush_economic_advisors_compared/comment-page-1/#comment-530109 steve Sat, 29 Nov 2008 02:46:13 +0000 http://www.outsidethebeltway.com/?p=27953#comment-530109 Explain Hennessey as head of the NEC. Keep a straight face while doing so. Steve Explain Hennessey as head of the NEC. Keep a straight face while doing so.

Steve

]]> By: James http://www.outsidethebeltway.com/archives/obama_and_bush_economic_advisors_compared/comment-page-1/#comment-529904 James Fri, 28 Nov 2008 16:31:15 +0000 http://www.outsidethebeltway.com/?p=27953#comment-529904 But then: <blockquote>Earlier today, I saw Greg "Bush economist" Mankiw was a little touchy about a Krugman blog comment. My reaction was that Mankiw has some explaining to do. A key embarrassment for the economics profession in general, and Bush economists Greg Mankiw and Eddie Lazear in particular, is how they missed the biggest economic story of our times. ... But in addition to looking forward, I think certain economists need to do some serious soul searching. Instead of leaving it to us to guess why their analysis was so flawed, I believe the time has come for Mankiw, Kling and many other economists to write a post titled "Why I was wrong".</blockquote> Source: <a href="http://calculatedrisk.blogspot.com/2008/11/hoocoodanode.html" rel="nofollow">Calculated Risk: Hoocoodanode?</a> (h/t <a href="http://www.eschatonblog.com/" rel="nofollow">Eschaton</a>) Let's wait and see when and if they admit how wrong they were. Until then, they don't really deserve to be taken Seriously. As a matter of fact, we should run away from their musings as fast as humanly possible. But then:

Earlier today, I saw Greg "Bush economist" Mankiw was a little touchy about a Krugman blog comment. My reaction was that Mankiw has some explaining to do. A key embarrassment for the economics profession in general, and Bush economists Greg Mankiw and Eddie Lazear in particular, is how they missed the biggest economic story of our times.

...

But in addition to looking forward, I think certain economists need to do some serious soul searching. Instead of leaving it to us to guess why their analysis was so flawed, I believe the time has come for Mankiw, Kling and many other economists to write a post titled "Why I was wrong".

Source: Calculated Risk: Hoocoodanode?
(h/t Eschaton)

Let's wait and see when and if they admit how wrong they were. Until then, they don't really deserve to be taken Seriously. As a matter of fact, we should run away from their musings as fast as humanly possible.

]]> By: anIRprof http://www.outsidethebeltway.com/archives/obama_and_bush_economic_advisors_compared/comment-page-1/#comment-529889 anIRprof Fri, 28 Nov 2008 15:28:07 +0000 http://www.outsidethebeltway.com/?p=27953#comment-529889 There's also some age bias in the citation counts. Goolsbee only got his PhD in the early/mid 1990s and so there's been a lot less time for him to write and then be cited by others. Among young economists I gather his reputation is pretty stellar. On the other hand, there's a case to be made that experience counts for a lot in policy advice, not just brilliance, and so maybe the lifetime cumulation is the right approach. There's also some age bias in the citation counts. Goolsbee only got his PhD in the early/mid 1990s and so there's been a lot less time for him to write and then be cited by others. Among young economists I gather his reputation is pretty stellar.

On the other hand, there's a case to be made that experience counts for a lot in policy advice, not just brilliance, and so maybe the lifetime cumulation is the right approach.

]]> By: The Glittering Eye » Blog Archive » Predicting http://www.outsidethebeltway.com/archives/obama_and_bush_economic_advisors_compared/comment-page-1/#comment-529882 The Glittering Eye » Blog Archive » Predicting Fri, 28 Nov 2008 15:01:01 +0000 http://www.outsidethebeltway.com/?p=27953#comment-529882 [...] and Greg Mankiw are busily occupied in comparing the size of their reproductive organs (hat tip: James Joyner). Their time might better be spent in predicting within, say, 1% how today’s “Black [...] [...] and Greg Mankiw are busily occupied in comparing the size of their reproductive organs (hat tip: James Joyner). Their time might better be spent in predicting within, say, 1% how today’s “Black [...]

]]> By: odograph http://www.outsidethebeltway.com/archives/obama_and_bush_economic_advisors_compared/comment-page-1/#comment-529870 odograph Fri, 28 Nov 2008 13:23:17 +0000 http://www.outsidethebeltway.com/?p=27953#comment-529870 Philip Cooney is stll my favorite ... but there is still the (untold) story of how Jeff Gannon got on the White House press list. Gannon was not an appointment, I understand, but if you want some real early Bush-era strangeness, there it was. Philip Cooney is stll my favorite ... but there is still the (untold) story of how Jeff Gannon got on the White House press list. Gannon was not an appointment, I understand, but if you want some real early Bush-era strangeness, there it was.

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