Monday, November 10, 2008

Greg Mankiw

Is certainly more optimistic / less cynical than I am* with his advice to Pres. Elect Obama:

His core points – Listen to your Economists, Steal some Republican ideas, Pay attention to the budget constraint, and learn from your mistakes – are all good ones.

Unfortunately, I suspect that he’s whistling an aria to the deaf**.

It’s hard to imagine any effective constraints on the our downward spiral into bailouts for everybody.

*He’s smarter too. However, that line forms to the left, and is already a couple of miles long.

** From either Woody Allen or S.J Perelman; can't remember which one...