WSJ Real Time Economics reports,
Republicans have held up Mr. Diamond’s confirmation because he is not an authority on monetary policy.
Peter Diamond is well qualified to be a Fed Governor. In my opinion, those who oppose him need to get over themselves.
Sep 9 2010
The other day, Tyler Cowen challenged me to name any country that I consider under-educated. None came to mind. While there may be a country on earth where government doesn't on net subsidize education, I don't know of any.On the surface, my failure to answer Tyler's question seems like an outgrowth of my p...
Sep 9 2010
[Libertarianism] is hopeless intellectually, because the values people hold are many and divergent and some of these values do not merely allow, but demand, government protection of weak, vulnerable or unfortunate people. Moreover, such values are not "wrong". The reality is that people hold many, often incompatible, c...
Sep 8 2010
WSJ Real Time Economics reports, Republicans have held up Mr. Diamond's confirmation because he is not an authority on monetary policy. Peter Diamond is well qualified to be a Fed Governor. In my opinion, those who oppose him need to get over themselves.
READER COMMENTS
Gary Rogers
Sep 8 2010 at 9:16pm
Mr. Diamond’s credentials appear to be all academic. I do not know him personally, but just the thought of more academics in decision making roles seems like a bad idea.
Biomed Tim
Sep 9 2010 at 2:12pm
Theorists are somehow unable to perform “fact-based reasoning?”
Ben
Sep 9 2010 at 5:58pm
If you define theorists as people who can build models, then Narayana Kocherlakota is a theorist. Eric Rosengren is also a theorist by that definition. Regardless of what you want to see the Fed do, the ability to do theory does not exclude people from making reasonable judgements in any subjective opinion, since theorists are on both sides of the debate.
The delays on Diamond’s confirmation are unconscionable; I don’t think there is a single more qualified person to be appointed to the Board. He practically invented one of the two major approaches to the way we think about macroeconomic growth, he’s the foremost expert in Social Security issues, and he wrote the seminal paper on the Beveridge curve, not to mention an extensive set of publications on inflation and monetary policy. If Peter Diamond’s not qualified, nobody’s qualified.
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