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400 Economists Endorse Romney: Group includes 5 Nobel Prize winners
Advisor One ^ | August 15, 2012 | Gil Weinreich

Posted on 08/18/2012 2:00:05 AM PDT by 2ndDivisionVet

A former conservative official has rallied 400 economists, including five Nobel Prize winners, to sign a statement supporting Republican presidential hopeful Mitt Romney’s economic policies.

Nobel Prize-winning economists Gary Becker, Robert Lucas, Robert Mundell, Edward Prescott and Myron Scholes are among the names listed on the website, Economists for Romney.

The site's founder, James Carter, was a deputy assistant Treasury secretary of former President George W. Bush. Economists for Romney describes itself as “an independent, voluntary association of economists” supporting the former Massachusetts governor and says it “is not an official arm of the 2012 Mitt Romney campaign.”

AdvisorOne could find no comparable list of economists supporting President Obama, though the prominent liberal economist Brad DeLong derided the list on his blog, suggesting its signers should “back out” now that Romney has chosen Rep. Paul Ryan, R-Wis., as his running mate. DeLong also said 400 was not a high number in comparison to the more than 1,000 economists who Republican presidents have appointed to positions on the Council of Economic Advisers.

The list is reminiscent of the support Obama received in his first presidential run, when six Nobel Prize-winning economists and others including DeLong, a professor at the University of California, Berkeley, supported the president. The Nobel winners included Paul Krugman, Daniel McFadden, Edmund Phelps, Amartya Sen, Robert Solow and Joseph Stiglitz.

It is not clear how many of these economists still count themselves as Obama supporters. The Obama campaign has yet to respond to a request from AdvisorOne for a list of current supporters among economists.

The statement signed by the group said the governor’s economic plan was based on “a more contained and less intrusive federal government, a greater reliance on the private sector, a broad expansion of opportunity without government favors for special interests, and respect for the rule of law including the decision-making authority of states and localities.”

Among the specific policies the economists endorsed, they said, are Romney's plan to reduce marginal tax rates and thereby broaden the tax base, ensure that federal spending not exceed 20% of GDP, and restructure regulation so as to end “too big to fail.”

The economists blasted Obama for “increasing the size and scope of the federal government, which increases the debt, requires large tax increases, and burdens business with many new financial and health care regulations.”

Prominent names among the signatories are Robert Barro (Harvard), Michael Boskin (Stanford), Martin Feldstein (Harvard), Allan Meltzer (Carnegie Mellon) and John Taylor (Stanford).

Big names in the business world on record as supporting Obama in 2012 include former Microsoft CEO Bill Gates and Warren Buffett, the chairman and CEO of Berkshire Hathaway. The Omaha businessman told Fox News in May he supported the president “100%.”

As for Obama’s 2008 economist supporters, Paul Krugman’s most recent blog posts make clear he vociferously opposes the Republican ticket. Columbia University professor Joseph Stiglitz expressed criticism of both Obama and Romney in his most recent New York Times op-ed on U.S. housing policy.


TOPICS: Campaign News; Issues
KEYWORDS: 2012endorsements; economists; economy; obama; romney; ryan

1 posted on 08/18/2012 2:00:08 AM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

The science is settled then. Sounds like a consensus. Well, that is just as silly a claim as when the climate alarmists make a similar claim.

I do know this: Ryan is an extreme radical for insisting that everywhere and always one plus one equals two. Or more to the point, there are only so many jelly beans in the jar. We do increase the number of real jelly beans by creating slips of paper for more than that number. And that is what lovers of big and Bigger government have been doing in various ways for several generations.

The very idea that we could make debt an asset and then create an infinite amount of this new “asset” from which we could build a great society where nobody would have to deal with a scarcity of anything denies reality. And that is exactly what the welfare state must do and what it induces those who become dependent upon it to think.

That applies at the bottom end where a person comes to believe that they should spend their days working the system so they can get all their “benefits” rather than working at a productive job. It applies at the high end where business executives spend their time working their government connections to secure grants, allowances, waivers and subsidies instead of new efficiencies and new products.


2 posted on 08/18/2012 3:27:16 AM PDT by theBuckwheat
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To: 2ndDivisionVet

"3 of every 4 Americans DO NOT WANT ROmneyCARE or ObamaCARE."


3 posted on 08/18/2012 3:31:10 AM PDT by Diogenesis ("No man's life, liberty, or property is safe while the legislature is in session."- Mark Twain)
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To: 2ndDivisionVet

5 real nobel prize winners


4 posted on 08/18/2012 4:31:54 AM PDT by ronnie raygun (bb)
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To: 2ndDivisionVet

Paul Krugman has long ago gone from Economist to Political Activist. His opinion changes depending on who is in office. He can’t even admit it to himself though, pretty typical of those who have left reason for politics..


5 posted on 08/18/2012 5:02:56 AM PDT by Paradox (I want Obama defeated. Period.)
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To: 2ndDivisionVet

“400 economists”

That is suppose to impress everyone.

It as bad as 400 consultants.


6 posted on 08/18/2012 5:46:46 AM PDT by hadaclueonce (you are paying 12% more for fuel because of Ethanol. Smile big Corn Lobby,)
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To: 2ndDivisionVet

Obama is a Noble Prize winner.....


7 posted on 08/18/2012 9:36:22 AM PDT by Tennessee Nana (Why should I vote for Bishop Romney when he hates me because I am a Christian)
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To: 2ndDivisionVet

The only Nobel laureate that surprised me from Obama’s list is Robert Sollow.


8 posted on 08/18/2012 1:08:38 PM PDT by paudio (Two stubborn facts remain: (1) Romney is better than 0bama, and (2) Romney is the Republican Nominee)
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