WASHINGTON, DC – Christina Romer, one of President Obama's top economic advisers, is leaving her position as chairwoman of the White House's Council of Economic Advisers, calling her service "the honor of a lifetime." She is expected to return to her position as a professor of economics at the University of California, Berkeley. In a statement, President Obama applauded Romer and said "family commitments" caused her to step down. However, National Journal reports that tensions within Obama's economic team precipitated her departure. Here's why:
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Comment: Romer is typical for the dismal state of modern (mainstream) economics. As it finally dawned upon her that her theories not only do not work but make things worse, she runs for the exit and continues to play her games at the blackboard in front of ignorant students. She is like a surgeon who, after killing thousands of patients in the operation room, goes back to teaching the next generation how to do the same.
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