Word: economisters
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...interesting protégé-and-mentor team: Summers is the deep, intellectual economist who can be brusque if not arrogant. Geithner is a smoother, harder-to-read operator who gets along well with everyone. Of the two, Summers is the one to watch. He is expected to do for the economy what strong-minded and ambitious National Security Advisers like Henry Kissinger have done for foreign policy: plan it, set it and control...
Even so, a recession is under way. The goal now, said economist and Obama aide Austan Goolsbee, is to prevent a depression. Obama also sees in the current mess a rare confluence of both crisis and opportunity that gives him the chance to remake the U.S. economy. After months in which members of his own party wondered how Obama could keep all his promises in a single term, he is now setting the stage to attempt far more in his first year in office than seemed likely just a month ago. "We're coming in," noted Goolsbee, "with a bang...
Plan of attack: Whatever its other challenges, the new economic team already has one huge advantage: economists from both right and left now agree that a massive stimulus measure is needed--and soon. The éminence grise of Republican economic advisers, Harvard's Martin Feldstein, raised some eyebrows in October by saying the stimulus package might need to be as big as $300 billion. Already that seems timid. Jan Hatzius, chief economist for Goldman Sachs, is telling clients he expects Obama's stimulus package to be $400 billion to $500 billion a year in order to compensate for a retrenchment...
President-elect Barack Obama filled the last of the four top economic positions Monday, announcing that his Council of Economic Advisers will be chaired by University of California at Berkeley economist Christina D. Romer, who was a subject of national indignation earlier this year when Harvard did not offer her a tenured professorship. Economists, including Harvard professor N. Gregory Mankiw, a former CEA chief under President Bush, have hailed Obama’s pick as an “excellent choice.†Though the role of the CEA has been diminished since former President Clinton created the National...
...leading extremely well within their fields and to showcase them as models for others to encourage a higher quality of leadership in this country and internationally.†Of the 24 selected leaders, three are former Harvard students: energy pioneer Amory B. Lovins ’68; prominent economist Jeffrey D. Sachs ’76; and Linda D. Rottenberg ’90, CEO of the nonprofit Endeavor. Rottenberg said she was thrilled with the honor. She described the other leaders as “people who have inspired me†and called the selection...