Monday, January 25, 2010

Will Uncle Barry understand the economic mess he is in?

This Ames piece argues that Obama should fire guys like Larry Summers.  He makes a good case in this excellent article.

However, I am not so sure this would do much good. Why? Because the overwhelming majority of the practicing economists in USA have more or less identical educations and worldviews.  Summers is just an extreme example of the Predator economist type--he was the youngest man to granted tenure at Harvard.  Karma is a bitch and Summers would go on to nearly bankrupt the place--something that pegs my schadenfreude meter.
By Mark Ames
If President Obama wants to really understand why he got his ass handed to him in the Massachusetts Senate race—a defeat as shocking and strange as if Joe Lieberman was elected president of Iran—he might want to read one of the thousands of economic horror stories happening around the country every day, stories that have put most Americans in a very foul, desperate mood. Like this story out of a small town in northern Indiana, where a casket maker was forced to close down operations and lay off its 50 employees because Americans can no longer afford bury their loved ones, and instead they’re cremating their bodies to save money. more

No comments:

Post a Comment