Word: hubbardism
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...could be so entertaining? During the past year, as the Bush Administration has wrestled with how to handle the downturn, the leaders of its economic team have often bickered so openly that aides have found themselves struggling to suppress snickers. Bush's top economic adviser, Larry Lindsey, and Glenn Hubbard, chairman of his Council of Economic Advisers, don't just tug at each other over whether or how to combat the slide in the stock market. They like a good roll in the dirt over such issues as the definition of a market bubble. Says one spectator: "It's like...
...faith in CEOs determined his economic team. The month before he took office, he told TIME that he viewed economists as he did "accountants--you hire them." Bush "hired" Lawrence Lindsey, a former Federal Reserve governor, for the backstage role of national economic adviser. And he chose Glenn Hubbard, an economics professor, as chairman of his Council of Economic Advisers. But for the out-front post of Treasury Secretary, Bush chose the CEO of aluminum giant Alcoa, Paul O'Neill, whose skepticism about investment bankers mirrored...
...doesn't help that Bush's economic advisers don't play well together. Disputes among Lindsey, O'Neill and Hubbard have become so acrimonious that they have begun seeping out of this famously buttoned-up White House. Lindsey can roll his eyes when asked about O'Neill's latest unscripted remark. And according to allies, he has complained that Hubbard's status quo views have persuaded the President to reject as interventionist even modest new policy steps. The President's top economists, says a senior Administration official, "disagree on the analysis before they ever get to the remedies...
...faith in CEOs determined his economic team. The month before he took office, he told Time that he viewed economists as he did "accountants-you hire them." Bush "hired" Lawrence Lindsey, a former Federal Reserve governor, for the backstage role of national economic adviser. And he chose Glenn Hubbard, an economics professor, as chairman of his Council of Economic Advisers. But for the out-front post of Treasury Secretary, Bush chose the CEO of aluminum giant Alcoa, Paul O'Neill, whose skepticism about investment bankers mirrored...
...doesn't help that Bush's economic advisers don't play well together. Disputes among Lindsey, O'Neill and Hubbard have become so acrimonious that they have begun seeping out of this famously buttoned-up White House. Lindsey can roll his eyes when asked about O'Neill's latest unscripted remark. And according to allies, he has complained that Hubbard's status quo views have persuaded the President to reject as interventionist even modest new policy steps. The President's top economists, says a senior Administration official, "disagree on the analysis before they ever get to the remedies...