Vote for Economists
Neoconservatarian Note – I decided to take a day off. Enjoy Socialistocrat’s commie bullshit. Just kidding, this is a good post, 95% endorsed by my Neoconservatarian self. And I second his podcast talk, go subscribe to it.
I have begun three, count ‘em, three blog posts besides this one only to stop before posting them. They were on why we should repeal the 2nd not 14th amendment, why the Mosque at Ground Zero (which is neither a mosque nor at ground zero) is still a better idea than a Catholic Church near an elementary school, and why elitism is the only good philosophy. Still, none of them satisfied me for some reason. So I decided to go to my favorite topic: economics.
Economics is a passion of mine. I took my first econ course two years ago and I’ve been hooked ever since. One way I slake my economics thirst is through the NPR podcast Planet Money. If you don’t listen, it’s brilliant and easy to understand. So last episode of Planet Money was a check on where the stimulus plan left us a year and a half later. As a die hard Keynesian, I was already braced to hear some conservative economist tell me how Government spending has failed and only responsible budgeting, although it will hurt in the short run, can keep an economy healthy in the long run.
In this expectation I was not disappointed. George Mason economist Tyler Cowan talked about how clearly the stimulus did not work and blamed inefficient allocation of funds and an untested principle. After that they talked to Keynesian economist Mark Zandi, chief economist of Moody’s, who said that the stimulus did work, although obviously not as well as we would have hoped. They both made their cases and they are worth listening to, but what amazed me were two things, 1) these guys are smart and should be the ones creating policy and 2) they both acknowledged that the other person made good points and that they did not always know the answers. Cowan said a stimulus could potential work and Zandi said there were times when a stimulus is inappropriate. They were reasonable and smart, and that’s all I ask of people.
So compare this with most politicians. Republicans lately have been clinging to the totally debunked supply-side economics. They say they want to balance the budget and cut taxes. But this is not just a GOP issue, although I think the Dems are right on stimulus, they are the ones who gave us rent control, powerful labor unions, and a dozen other inefficiency creating policies. This is why we should only elect economist or at least people willing to listen to economists. I’d rather have an Ivy league educated economist with whom I disagree than some idiot even if they will vote how I want most of the time. In conclusion read: www.npr.org/money, and the more conservative http://gregmankiw.blogspot.com/ and the more liberal http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/paulkrugman/index.html and vote for economists. I’m working on a list of economist candidates for public office to come eventually.