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View Diary: Draft Paul Krugman for Treasury Secretary (45 comments)

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  •  Here's why: he's someone we can trust (0+ / 0-)

    for once.

    Not Ideas about the Thing but the Thing Itself - Wallace Stevens

    by catchlightning on Wed Nov 12, 2008 at 11:11:27 AM PST

    [ Parent ]

    •  Why do you think you can trust him? (0+ / 0-)

      How much do you know on where he stands on policy considerations? How open is he towards incorporating different ideas and policies to solve problems; there are other economists that are progressive democrats, I do not understand the fixation on Krugman. Honestly, for treasury secretary you need someone who specialises in finance and money and banking and has general ideas on how to deal with macroeconomic problems. We need a Keynesian (of whatever stripe) who is willing to regulate the financial sector and who supports other types of policies besides adjusting taxes and interest rates (although interest rate adjustments and money supply alterations are primarily the province of treasury secretary), we need someone who can make a positive contribution to general economic policy at cabinet meetings.

      •  And who might that be? <nt> (0+ / 0-)
        •  We need someone more similar to Stiglitz (0+ / 0-)

          who is a general macroeconomist. From what I read here, Stiglitz has said that he is not interested in the position, but if we had to draft someone, we would be better with him. We should also avoid Lawrence (i.e., Larry) Summers. On monetary and financial matters, we would be better off with someone who is a post-Keynesian as they have better understandings of the monetary and financial systems and many are more policy oriented. There are also many qualified economists at the Fed who have both theoretical and policy experience.

          Krugman does not work on these things, they are not his area of specialisation which is international trade. To use an analogy, it would be choosing a haematologist to do brain surgery.

      •  because I've read everything he's written (0+ / 0-)

        during this entire election cycle in particular - including his blog, which often has a lot more pointed commentary than his print columns.

        Not Ideas about the Thing but the Thing Itself - Wallace Stevens

        by catchlightning on Wed Nov 12, 2008 at 11:34:56 AM PST

        [ Parent ]

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