.Stuart E. Eizenstat.Economists and White House Decisions. Angie.

.Stuart E. Eizenstat.Economists and White House Decisions. Angie.

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Economists and White House Decisions 1. Presidents and White House staff members expect economist to be "omniscient prophets" of the future course of the economy o Unerring economic policy advisers o Provide economic blueprint fro high growth, low inflation and a guaranteed re- election Without offending constituencies o Inflated expectations o While Eizenstat served in the White House, Ph.D. economists occupied the positions of Secretary of Labor, Secretary of Commerce, Secretary of Treasury, Director of the Council on Wage and Price Stability, the President's anti- inflation adviser, Chairman and Council Members of the Council of Economic Advisers, and many other senior positions throughout the government. o Sad state of economy might affect the outcomes of reelection 2. The Council of Economic Advisers o Council of Economic Advisers Created by Truman and Congress in 1946 Principal institution for exercise of power by economist in govt. Has only one constituent- the President of the United States Role Primary- act as objective counterweight for competing , interest driven recommendations of departments and a agencies of the Executive Branch Second- advocate for the "economic efficiency" in governmental decisions Lacked political sensitivity President need candid advice of economist But presidents have other advises that can emphasize fairness or political concerns
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This note was uploaded on 02/21/2012 for the course GOV 1540 taught by Professor Rogerporter during the Fall '10 term at Harvard.

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.Stuart E. Eizenstat.Economists and White House Decisions. Angie.

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