Sounds a bit like an economic game show who wants to be a millionaire with Bernake facing off against Orman could be interesting based on their economic views. Seriously though I agree that the economy is no longer managed those in power I trying to manage through the economy.
So @Scott, if the goal is to simply come up with a framework and avoid micromanagement, maybe there is a better way to describe it. Rather than "Who should run the economy" should we look for someone to "manage" the economy? "Direct" the economy?
Suggestions, IU community?
And once we decide on the right word, who would be a good fit for the position?
But, again, I question the central premise. Can you really "run the economy"? The economy runs itself. You just need to provide a framework for it to run well.
I think this sense of "control" and overconfidence is what led Alan Greenspan to help drive the economy into a ditch.
SO true, @Value Hiker, and it terrifies the banker "little piggies" that the wolves of true capitalism might come after their houses and blow them down. MUCH better to hide behind the fiction that we need academic economists to truly understand what the markets need.
Is it better to understand money than make it? Only in the ivory tower!
I agree with Tenacious. Compared to Buffett and Soros, the bankers definitely feel more at home with Sheila & Geithner. After saving their banks with trillions dollar taxpayer's money, we shall not be surprised that Bernanke are these bankers' new idol.
If Soros was the Fed chairman during 2008 crisis, there will be no such thing like "too big to fail". After sacking the Bank of England, and dozens of other Asian Central Banks, it will be a piece of cake to fail Goldman Sachs or Morgan Stanley.
Re: what about
Broadway
3/27/2012 10:48:01 PM
As head of the US government, the president watches over a diversified economy of manufacturing, financial services, etc. etc. So we don't need a CEO of a car company. We need a CEO of a diversified holding company, like Berkshire Hathway. The Sage owns paint companies, insurance companies, newspapers, candy companies, underwear companies, etc. etc.
I like Alan Mulally. But I'd rather keep him at Ford. I think he's done a nice job there.
what about
AskAsa
3/27/2012 11:45:01 AM
This may be slightly off topic but what about someone who actually creates something as opposed to shifting money around?
Ford CEO Alan Mulally comes to mind.
Buffett and Soros are the only two who wouldn't be afraid to make big changes that could potentially benefit the long term because they wouldn't be afraid of being kicked out of office -- they have real jobs.
Re: Scary
Phoenix
3/27/2012 11:34:51 AM
Yes I guess you are right they wouldn't want someone who would rock the boat. But Buffett and Soros look like the only two who seem have some idea of what is going on.
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