June 17, 2008
According to the latest polls, the economy is the biggest issue for voters. So I ask myself which candidate for president has the most support from economists. And my answer is…um…I don’t know.
Now here’s the interesting part about that particular piece of ignorance: I follow the news more than most people. So why don’t I know the answer to the most important question in this election?
I know all about lapel pins and fist pumps and gaffes and ministers. I have a pretty good idea where the candidates are on most irrelevant issues. But I don’t know if independent economists have a consensus on who would be the best president, economy-wise.
The best I could find on the Internet in a quick search was a list of (presumably) Democrat economists supporting Obama and a list of (presumably) Republican economists supporting McCain. Does that really tell me anything?
Do you know whose side most independent economists are on, or do you pretend you have that sort of expertise yourself?
I expect some people will leave comments to this post along the lines of “It is obvious that (one of the candidates) has the best economic policy because he will do (whatever) and the other guy won’t!” Unfortunately, economics is not common sense. It’s a mix of science, calculus, chaos, expectations, and voodoo. In other words, if you think you understand economics, that’s proof that you don’t.
Here’s the question of the day: Who do you think would be the best president for improving the economy, and what makes you an expert on economics?