WHAM TV here in Rochester wanted to know what I thought about the President’s ability to impact the economy. Read the Hayek quote at the top of this website to understand what I was trying to say. Real economics is not conducive to 30 second news-bites, but Elizabeth Schubert did as admirable a job as one can do in trying to condense over 30 minutes of an interview that we had into that little clip. I do not envy her!
I would like to have added, if we think that Presidents can have a positive or negative impact on the economy, and if so many people believe that President Obama will be good for the country’s economy, then how come we do not see “efficient” capital markets respond NOW with a huge run UP in prices? How come we do not see people rushing out to buy bigger houses, an additional car, or some other goodies? After all, some Presidents are good for the economy and others are not, right?
One final point, I’m just a lowly LECTURER here at UR, and I told them that was my title, but maybe “Assistant Professor” sounds more impressive to the audience.