Friday, October 08, 2004

On the economic front...

Even before today's anemic job numbers came out, economists who aren't on the payroll or GOP surrogates have been highly critical of the Bush Administration. Aside from Krugman and DeLong, we have this extraordinary joint efforts to get Bush Administration to also "pay attention" to reality.

First, check out this "Open Letter to President George W. Bush" (via Maxspeak) signed by dozens of elite business school professors and economists. These aren't your average commie hippies, they are the ones who teach our corporate leaders how to make money. An excerpt:
October 4, 2004

Dear Mr. President:

As professors of economics and business, we are concerned that U.S. economic policy has taken a dangerous turn under your stewardship. Nearly every major economic indicator has deteriorated since you took office in January 2001.

[...]

Sensible and farsighted economic management requires true discipline, compassion, and courage – not just slogans. Given the tenuous state of the American economy, we believe that the time for an honest assessment of the problem and for genuine corrective action is now. Ignoring the fiscal crisis that has taken hold during your presidency may seem politically appealing in the short run, but we fear it could ultimately prove disastrous. From a policy standpoint, the clear message is that more of the same won’t work. The warning signs are already visible, and it is incumbent upon all of us to pay attention.
And then there is article "10 Nobel economists endorse Kerry: Experts criticize Bush's 'reckless and extreme course'"

[Update: Here is an article by Joseph Stiglitz, Nobel Prize-winning economist, on the Bush economic policies over the last four years, Four Years of Failure.]

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