Willem Buiter doesn’t pull any punches. I don’t always agree with him, but he’s worth reading. Here’s the summary of his analysis of the 17 members of president-elect Obama’s transition economic advisory board:
- They’re old
- Too few serious economists
- Far too many lawyers
- They are protectionist
- They are the unalluring faces of past failures
I think he’s reading too much into the 17 announced names. Look at Obama’s voluminous public statements and writings, and the nature of the policy team that he has assembled. I think even maverick economists like Buiter will end up more pleased than provoked.