An even bigger problem though is that by focusing so heavily on Summers, the president has inadvertently narrowed the field down to only two candidates: Larry Summers and Janet Yellen.
This article discusses a simmering feud among five of the most prominent economists in the world (two of them Nobel Laureates).
President Obama has already fired Ed DeMarco, acting director of the Federal Housing Finance Agency (FHFA), but before he leaves DeMarco is handing an early Christmas present to his friends in the banking industry.
This is the story of a generation. My generation. We're in our 20s and early 30s. They call us the Millennials. But lately it seems a more accurate name would be the Unhireables.
The President, appearing in the White House briefing room dressed only in swim trunks, announced that for the duration of the summer, all thermostats in the White House will be set to 85 degrees.
The GOP has begun to turn up the temperature on the pots of water a bit too quickly, ensuring the frogs will jump out. Watching the gathering protests and escalating anger in Texas, Ohio and North Carolina these past two weeks has given me hope that people are paying more attention.
It does look like the results of Fed Chairman Bernanke's push for greater transparency in Federal Reserve policy deliberations are coming home to roos...
As Paul Krugman might say, let's indulge in some wonkiness. The subject: economics, with a particular focus on the institution where Krugman himself b...
Fed Chairman Bernanke seems to have abruptly switched sides in the stimulus debate. He said the purchases of bonds and mortgage securities could begin to be 'tapered' by the end of the year, if unemployment continues to fall. So why is Bernanke suddenly so optimistic about growth?
As the fiscal picture has improved, both through actions we've taken already and the improving economy, it's much tougher to make the hair-on-fire urgency case that drove this benighted debate in recent years.
The vulture reformers -- who have proven adept at raising corporate money and implementing market-based reform through complete mayoral control -- have forgotten that teaching boils down to the interpersonal.
The postmodern intellectual is also more closely associated with business and sales than in the past. Today, everyone markets themselves and everything is a business. Even academic institutions resemble business institutions.
The economics profession has been injected with enormous sums of money -- in the form of chairs, endowments, think tanks, advisory roles, consulting gigs, and God knows what else -- to push it further to the right.
Having ten years to fully implement their vision, these Republicans did great for middle-class Americans, right? Again, only if we pretend that history ended in October 1929.
The stock and bond markets are sinking because of Fed Chairman Bernanke's seemingly offhand remark that the Fed could slow down its QE purchases of se...
Despite the disgrace in which the case for austerity economics now resides, it is unlikely that politicians and policy-makers, either in Europe or in the GOP-controlled House of Representatives, will change course anytime soon.