Comments on: Obama’s NAFTA Gaffe: Economists, Stay Out of Politics! http://pajamasmedia.com/blog/goolsbees_nafta_gaffe_proves_e/ Sun, 22 Nov 2009 20:40:37 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Tom Hayes http://pajamasmedia.com/blog/goolsbees_nafta_gaffe_proves_e/comment-page-1/#comment-26333 Tom Hayes Tue, 25 Mar 2008 15:45:10 +0000 http://dev.pajamasmedia.com/blog/obamas-nafta-gaffe-economists-stay-out-of-politics/#comment-26333 The truth is, technology is now shaping culture and economics is shaping politics. The Internet is on a path to true mass adoption by 2011 and this "jump point" will set off in our economy a painful transition leaving our politicians with difficult choices and godawful trade offs. The good news is that we have about 1000 days to get our economic house in order. The bad news is, the clock is ticking. The truth is, technology is now shaping culture and economics is shaping politics. The Internet is on a path to true mass adoption by 2011 and this “jump point” will set off in our economy a painful transition leaving our politicians with difficult choices and godawful trade offs. The good news is that we have about 1000 days to get our economic house in order. The bad news is, the clock is ticking.

]]> By: bee http://pajamasmedia.com/blog/goolsbees_nafta_gaffe_proves_e/comment-page-1/#comment-24908 bee Tue, 11 Mar 2008 03:36:35 +0000 http://dev.pajamasmedia.com/blog/obamas-nafta-gaffe-economists-stay-out-of-politics/#comment-24908 Goolsbee is a fool. Did he really expect reason to have a place at an ideologues table? Goolsbee is a fool. Did he really expect reason to have a place at an ideologues table?

]]> By: David Thomson http://pajamasmedia.com/blog/goolsbees_nafta_gaffe_proves_e/comment-page-1/#comment-24907 David Thomson Mon, 10 Mar 2008 19:09:17 +0000 http://dev.pajamasmedia.com/blog/obamas-nafta-gaffe-economists-stay-out-of-politics/#comment-24907 "Glenn Hubbard seemed likely to be the next chairman of the Federal Reserve until he testified that whopping budget deficits wouldn't affect interest rates - yet his own textbook gave a detailed mathematical explanation the effect government borrowing has on credit markets." Glenn Hubbard did not contradict himself. The proposed government deficits represented a very small fraction of the overall American economy. It would be comparable to someone earning a comfortable six figure income and handling debts representing less than four percent of the total. Hubbard's point in his textbook would not kick in until that percentage rose somewhat higher. “Glenn Hubbard seemed likely to be the next chairman of the Federal Reserve until he testified that whopping budget deficits wouldn’t affect interest rates – yet his own textbook gave a detailed mathematical explanation the effect government borrowing has on credit markets.”

Glenn Hubbard did not contradict himself. The proposed government deficits represented a very small fraction of the overall American economy. It would be comparable to someone earning a comfortable six figure income and handling debts representing less than four percent of the total. Hubbard’s point in his textbook would not kick in until that percentage rose somewhat higher.

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