Saturday, December 06, 2008

Obama's Economic Team Will Fall Apart

There is a high probability that Obama's current economic team will not last for four years. There are philosophical differences and pragmatic tactics that they disagree with.

From Greg Mankiw:

What would you call a group of economists who are skeptical of regulating mortgage markets, who think unemployment insurance and unions increase unemployment, who say that tax hikes retard economic growth, and who believe that the recovery from the Great Depression was a monetary phenomenon rather than the result of New Deal fiscal policy?

No, it is not a right-wing cabal. It's Team Obama.

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