Who’s Going to Replace Orszag?
June 25, 2010
The first-day stories on Peter Orszag’s looming departure from OMB highlighted a number of possible successors.
Why Is Orszag Leaving?
June 22, 2010
[Guest post by Noam Scheiber] Let's stipulate that there will always be some amount of lurid speculation when a cabinet official exits—probably more so for the first cabinet-level official to depart an administration. But my hunch is that Obama budget director Peter Orszag is bowing out this summer for pretty pedestrian reasons. First the lurid speculation, such as it is: It’s true that Orszag sometimes clashed with fellow members of the Obama economic team. In particular, there was at times a rivalry between Orszag’s OMB and Larry Summers's National Economic Council.
"Hypocrisy," Say Morons
June 18, 2010
Stephen Moore of the Wall Street Journal editorial page, simultaneously reporting and propagating the Republican line du jour, accuses President Obama of a fiscal flip-flop: Republicans plan to hammer the debt and deficit hypocrisy theme in the days and weeks ahead. White House economic adviser Larry Summers has lectured Congressional Democrats that now is a good time for the federal government to borrow to "stimulate demand" because interest rates are low. Yet the President keeps insisting that fiscal responsibility is an important priority of the White House.
Get it Right!
June 14, 2010
Washington—Will politics slow our economic recovery? Will world leaders who pulled us back from the brink of a new Great Depression throw in the towel before the global economy gets the unemployed back to work?These are the moment's central questions, and I posed them last week to Larry Summers, President Obama's top economic adviser. Summers is often cast as an economic conservative because he was a serious budget balancer in the Clinton years.
Vindicating Larry Summers
June 10, 2010
John Tierney argues that Larry Summers' take on the role of gender and science, which got him fired as president of Harvard, was right: The Duke researchers — Jonathan Wai, Megan Cacchio, Martha Putallaz and Matthew C. Makel — focused on the extreme right tail of the distribution curve: people ranking in the top 0.01 percent of the general population, which for a seventh grader means scoring above 700 on the SAT math test.
Think Locally, Act Globally
May 26, 2010
Did anyone notice that NEC director Larry Summers quietly exploded old-fashioned urban policy last week? He didn’t mean to. In a speech at the Brookings-White House Council on Automotive Communities summit on May 18, Summers set out to talk about the economy, and how to stimulate manufacturing in general and auto manufacturing in particular. He identified four policy areas that are particularly important: the availability of credit; exports; innovation and R&D; and human capital. More credit, more exports, more innovation, and more educated workers could, in conjunction with huge and su
In Michael Lewis’ disturbing but illuminating book unearthing the machinations behind the global financial crisis, The Big Short, one of the Wall Street investors enmeshed in creating the web of sub-prime mortgage-backed securities and related derivatives reports on how he knew the bubble was going to burst.
The Lowdown on Elena Kagan
May 10, 2010
[Guest post by the TNR staff.] What should we make of Elena Kagan's nomination to the Supreme Court? Read all of The New Republic's analysis below. Jeffrey Rosen explains why Kagan is the ideal justice to represent Obama's judicial philosophy: It’s certainly fair for progressive senators to worry whether Kagan would move to the Court to the right.
April 19, 2010
Some years ago, I told my colleague Jack Goldsmith, when his role in revoking the notorious Yoo-Bybee torture memos became public, that the only thing worse than being demonized by the left is being lionized by the left. It works both ways, though. The media like to pin a one-word--or if they are more nuanced, one-phrase--epithet on public figures, as Homer would on his gods and heroes (grey-eyed Athena, wily Odysseus). They have decided to attach the term "conservative" (or for the more subtle: "relatively conservative") to solicitor general and former Harvard Law School Dean Elena Kagan.
The Landscape of Innovation
April 08, 2010
Economies happen in places, and they have an effect on the physical form of places – as the new ghost ‘burbs of the real-estate driven economies of Florida and Nevada show us. If the next American economy will be export-oriented, lower-carbon, and innovation-driven, as Larry Summers has posited (my colleagues and I agree), what kind of landscape will result?