Honesty, Dishonesty and Competence: Comments on Posner’s Critique
Menzie Chinn (August 20th, 2009) Writes:
Richard Posner has a critique of public intellectuals who work in the public sphere (with special reference to Christina Romer), either in government service, or in journalistic fora. Mark Thoma and Brad Delong have already made clear the (many) points at which Mr. Posner has gone astray. Parenthetically, I'll add that I wonder about the analytical abilities of anybody who lumps Phillip Glass (!) and Elliott Carter together into the highbrow music category (see page 18 in his tome Public Intellectuals: A Study of Decline (1991)). More substantively, I have a few of additional observations, some of which are amplifications of Brad Delong's points.
First, I agree with Mark Thoma that Mr. Posner apparently has little understanding of macroeconomics, either of old-style Keynesian type, or the new(er) real business cycle type, or certainly New Keynesian approaches. His charge that her current pronouncements are at sharp variance with
...Andy Samwick, Brad DeLong, businessman, Chairman, chief economic adviser to presidential candidate Michael Dukakis, Christina Romer;, Council Of Economic Advisers, Diane Lim Rogers, Economics, Elliott Carter, Executive, Federal Reserve System, Jeff Frankel, Larry Summers;, Mark Thoma, Market Commentary, Martin Feldstein, Michael Dukakis, nouriel roubini, Old Executive Office Building, Paul Krugman, Phillip Glass, president, presidential candidate, Richard Posner, Senate, staff economist, The Economic Journal, United States, USD, White House


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