Recently, Obama has received some applause for choosing a “first-rate economics team.” Karl Rove said that last week in the Wall Street Journal, but who cares? Rove doesn’t know much about economics and can’t tell the difference between the standard Keynesian retreads Obama has tapped and economists who understand that our troubles are deeply rooted in Keynesian thinking.
The biggest name in the group is Larry Summers. Supposedly, he’s a “centrist” but Professor George Reisman thinks he’s just a lightweight lefty with a strong desire for redistribution of wealth. Read his piece on Summers here.
