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Monday, October 24, 2005

Stop the presses Bush does something right !

Guess it had to happen sooner or later.

Bush names Ben Bernanke chairman of the federal reserve board.

Atrios finally loses a bet.

My first thought is that Bernanke is a great choice. He has made a major contribution to economic thought, but, unlike many other such contributors is down to earth and in contact with the real world. First class intellect with first class common sense (except for the incomprehensible decision to accept the post of chairman of the Bush administration CEA).

On second thought I tried to remember any other head of a major central bank who had previously made a major contribution to economic research. Maybe it's my ignorance but I drew a blank. So now we will find out what happens when top research economists are in charge of the economy.

Somehow the thought makes me very very nervous.

late Update: Now I'm really scared. When I told her about Bernanke Elisabetta Addis, the feminist to whom I am married, actually applauded. The update is late since it took me a while to regain conciousness after witnessing Elisabetta applauding a Bush decision.

Now Kevin Drum points out that Max Sawicky and Lawrence Kudlow agree that Bernanke is a relatively good choice. I never expected them to agree on anything until doomsday. I am looking for signs in the heavens and counting my horsemen.

1 comment:

brad said...

I would like to point out that Larry Kudlow likes Ben Bernanke because he thinks (erroneously) that Bernanke is no "Phillips Curver."

I know Phillips Curvers. Phillips Curvers are friends of mine. And Ben Bernanke is definitely a Phillips Curver...