Tuesday, November 11, 2008

The economic team

Willem Buiter is not so excited about Obama's economic team. This is what he has to say: They’re old (the mean age is 61.9); Too few serious economists and far too many lawyers (he adds: the American political system is completely dominated by this largely socially unproductive and parasitic profession. I add, he should look at Italy!) They are protectionist; They are the unalluring faces of past failures!

Buiter concludes: the one beacon of hope in this fog of mediocrity is Paul Volcker, a truly great man with more character, intelligence and vision than the rest of the Board put together. (ndr: he is also the one who really increases the average age).

Comment by Willem Buiter below (cool that he took the time to read something I wrote). Of course he's right. Also the median is high.
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1 comment:

Willem H. Buiter said...

Paul Volcker is not responsible for driving up the average age of the Team. The median age (a measure not tainted by outliers) is 60.