Greg Mankiw:
"My advice to Team Obama: Do not be intellectually bound by the textbook Keynesian model. Be prepared to recognize that the world is vastly more complicated than the one we describe in ec 10. In particular, empirical studies that do not impose the restrictions of Keynesian theory suggest that you might get more bang for the buck with tax cuts than spending hikes."
Is he smart enough to figure it out?
Perhaps more important, are his economic advisers strong enough to educate Obama on that salient point?
We shall find out soon enough
Is he smart enough to figure it out?
ReplyDeleteOdds are he is still the post turtle and doesn't have a clue.
His first words will be as Custer last words, "What am I doing here?"