Buiter on Obama's economic advisory board

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:

  1. They’re old
  2. Too few serious economists
  3. Far too many lawyers
  4. They are protectionist
  5. 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.

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