Presidential Economics

Several months ago, I noted that a few countries had recently elected an economist as president, and solicited suggestions for which U.S. economist might make a good president.

Among the many suggestions (including Gary Becker, Walter Williams, Thomas Sowell), one prominent name failed to appear: Jeffrey Sachs.

But that hasn’t discouraged a group of Sachs fans. The Sachs for President Draft Committee is “a grassroots movement aimed at convincing professor Jeffrey D. Sachs of Columbia University to run for president of the United States of America in 2008 … Our participants include a diverse range of people and views united by this common goal. We currently maintain no affiliation with Dr. Sachs, nor do we align ourselves with any political party or organization.”

In other presidential/economist news, the Washington Post reports today that outgoing Massachusetts governor Mitt Romney has signed up Greg Mankiw and Glenn Hubbard as economics advisors for his presumptive campaign. (If you don’t remember Hubbard as the head of Bush’s Council of Economic Advisors, you may remember him from this swell video.)

And the new blog from The Economist is reporting that John McCain has brought on Doug Holtz-Eakin as his top economics advisor.

Meanwhile, in Estonia, President Bush yesterday lavished praise on the tiny nation for its democratic instincts, its embrace of technology, and especially its flat tax system. Sheryl Gay Stolberg reports in the N.Y. Times that the Estonian flat tax “was the brainchild of the former prime minister, Mart Laar. Mr. Laar was inspired by the only economics book he had ever read, Milton Friedman’s paean to capitalism, Free to Choose. Believing, erroneously, that the flat tax had been put into practice through the West, Mr. Laar introduced it to Estonia.”

All of this makes me wonder which of our many Presidential hopefuls may try to hire Steve Levitt as an economics advisor. Because we gravely downgraded the N.Y.C. “crime miracle” in Freakonomics, I am guessing it won’t be Rudy Giuliani.

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COMMENTS: 40

  1. wesleyb41 says:

    I would rather see an Economist elected, or maybe a true businessman should run. Buffett, Sachs, Sowell, Williams. Levitt would make a good candidate as well.

    Anyone who looks outside the box is a candidate I would support.

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  2. wesleyb41 says:

    I would rather see an Economist elected, or maybe a true businessman should run. Buffett, Sachs, Sowell, Williams. Levitt would make a good candidate as well.

    Anyone who looks outside the box is a candidate I would support.

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  3. TheQuitter says:

    hahaha, if Rudy Giuliani hired Levitt, that would be high comedy. i think the only times that high powered big ego person would ever hire someone smarter is… well, never. unless it’s like studio 60, and you look like amanda peet or something.

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  4. TheQuitter says:

    hahaha, if Rudy Giuliani hired Levitt, that would be high comedy. i think the only times that high powered big ego person would ever hire someone smarter is… well, never. unless it’s like studio 60, and you look like amanda peet or something.

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  5. kevincure says:

    There are even more economist presidents than were listed in your previous post. Gloria Arroyo has a PhD (from U. Philippines), and Kenya’s Kwai Mibaki has an masters from LSE. The newly elected head of Ecuador did his PhD as Illinois. And, as you and commenters mentioned last time, the heads of Liberia, Benin and India all have solid economics credentials. This list isn’t exhaustive, but (a minimum of) 6 out of 200 isn’t such a bad record for the dismal science.

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  6. kevincure says:

    There are even more economist presidents than were listed in your previous post. Gloria Arroyo has a PhD (from U. Philippines), and Kenya’s Kwai Mibaki has an masters from LSE. The newly elected head of Ecuador did his PhD as Illinois. And, as you and commenters mentioned last time, the heads of Liberia, Benin and India all have solid economics credentials. This list isn’t exhaustive, but (a minimum of) 6 out of 200 isn’t such a bad record for the dismal science.

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  7. Brian Brady says:

    SJD, I have to disagree with you on this. Economists (in the tradition I know them to be) are mostly academics. Messrs. Sachs, Becker, Williams, Sowell, and Levitt, while smart and intuitive men, have no real world experience in “leadership”.

    When decisions need to be addressed about deploying troops or selling legilative ideas, I’m more comfortable with the traditional general/CEO type we’ve been electing.

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  8. Brian Brady says:

    SJD, I have to disagree with you on this. Economists (in the tradition I know them to be) are mostly academics. Messrs. Sachs, Becker, Williams, Sowell, and Levitt, while smart and intuitive men, have no real world experience in “leadership”.

    When decisions need to be addressed about deploying troops or selling legilative ideas, I’m more comfortable with the traditional general/CEO type we’ve been electing.

    Thumb up 0 Thumb down 0