# Will we ever again have a President that understands the rudiments of economics? **URL:** \ **Category:** Great Debates\ **Created:** [January 6, 2009, 7:11am UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059 "2009-01-06T07:11:18Z")\ **Posts on this page:** 14\ **Page:** 3
**Author:** ![tomndebb](https://avatars.discourse-cdn.com/v4/letter/t/b9e5f3/32.png) [@tomndebb](https://boards.straightdope.com/u/tomndebb)\ **Post date:** [January 7, 2009, 5:44am UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/41 "2009-01-07T05:44:03Z")
Brain Glutton, while it is considered proper board etiquette to let a Pitted poster know that he or she has been Pitted, making a point of posting the same link twice and ratcheting up the level of taunting is not necessary and comes way too close to being a jerk. [/Moderating] ---
**Author:** ![Aquila\_Be](https://avatars.discourse-cdn.com/v4/letter/a/a698b9/32.png) [@Aquila\_Be](https://boards.straightdope.com/u/Aquila_Be)\ **Post date:** [January 8, 2009, 1:28pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/42 "2009-01-08T13:28:38Z")
> [@BrainGlutton](#): > > Remember when [we had an economist for POTUS?](http://en.wikipedia.org/wiki/The_West_Wing)_sigh_ The West Wing? Delusional soap opera written to entertain morons. Here’s a little bit of unpleasant reality for you from post #12 in this thread: > [@](#): > > At this link [marietta edu](http://www.marietta.edu/~ema/econ/famous.html) we have listed under the heading ‘Famous Economics Majors’ a sub category that includes the following former Presidents: > > Politicians and Policymakers > George H. W. Bush Former US President (Yale) > > Ronald Reagan Former US President (Eureka College) > > Gerald Ford Former US President (University of Michigan) > Presidents as Econ majors aren’t exactly thin on the ground. So much for the: Remember when we had an Economist as “El Presidente”. What the hell is it with you and your passion for having a “Leader” anyway? Aren’t you above the age of consent yet? ---
**Author:** ![tim314](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tim314/32/3468_2.png) [@tim314](https://boards.straightdope.com/u/tim314)\ **Post date:** [January 8, 2009, 6:02pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/43 "2009-01-08T18:02:16Z")
> [@Aquila\_Be](#): > > So much for the: Remember when we had an Economist as “El Presidente”. An undergraduate econ major is not the same thing as an economist. “Economist” is a profession. Pus it usually requires a graduate degree, doesn’t it? For instance, my father majored in economics but immediately went on to law school and has spent his entire career practicing law – mostly in an area of the law that wasn’t even particularly related to economics. Calling someone like that an “economist” would be a pretty big stretch. ---
**Author:** ![guizot](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/guizot/32/3636_2.png) [@guizot](https://boards.straightdope.com/u/guizot)\ **Post date:** [January 8, 2009, 7:03pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/44 "2009-01-08T19:03:12Z")
> [@acsenray](#): > > The issue rarely is what specific expertise the actual president has. No one person can know everything. In a way, Cheney and Bush were correct in saying that a president can learn what he needs to know and get the advice he needs. > > The issue is really how does this person go about learning and asking for advice? On the one hand, you have someone like Clinton, who, if he didn’t know something, went out and really learned about it. The problem with Bush was not that he didn’t know everything from the start, but his assumptions and his attitude towards acquiring knowledge and advice. He started from the position that his ideology was correct and allowed himself to be steered towards advice that confirmed his biases. Thanks **acsenray**. That’s what I would’ve said except on the day of my last post I was hit by a car and hospitalized, so I couldn’t respond. > [@acsenray](#): > > He wasn’t criticizing the science of economics. He was criticizing the people who purport to apply it without understanding its assumptions, in particular, that “all other things being equal” is rarely a condition that exists in the real world. Again, thanks for pointing out the obvious while I was getting a CAT-Scan to search for internal bleeding. > [@RickJay](#): > > **But why would anyone think political decisions are made only for economic reasons?** Certainly not me. ---
**Author:** ![pancakes3](https://avatars.discourse-cdn.com/v4/letter/p/ba9def/32.png) [@pancakes3](https://boards.straightdope.com/u/pancakes3)\ **Post date:** [January 8, 2009, 7:19pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/45 "2009-01-08T19:19:50Z")
The OP asked for a president that understands the rudiments of economics, which an undergrad fulfills. Having an economist as president is a whole different animal. As RickJay said earlier, the presidency is a political office and will make decisions for political reasons. Even within economics you can go down two very different paths depending on if you’re trying to pursue results for the short run or the long run. Every single economic decision a president makes, knowledgeable or not, can’t placate everybody. There isn’t one panacea policy that will just magically right the course. Economic policy is a constant tweaking of institutions that allows for the desired results at that particular time. Also, for future reference, it’s widely accepted that around 4% unemployment is the natural unemployment rate for the US. cite? my econ notes and textbook from back when i took intermediate macro and labor economics. ---
**Author:** ![Algher](https://avatars.discourse-cdn.com/v4/letter/a/3d9bf3/32.png) [@Algher](https://boards.straightdope.com/u/Algher)\ **Post date:** [January 8, 2009, 8:04pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/46 "2009-01-08T20:04:38Z")
“The real world is a special case” - my econ professor in business school (said with a smile). It is one thing to understand basic economics, it is another to follow the Chicago School, the Cato model, Keynesian, Stiglitz, Hayek, etc. Do we want a classical or neo-classical? Should he embrace the new research on Behavioral Economics (when Economists try to be Psychologists, and do both poorly)? Maybe a Presidential Freakonomicist is the way to go! _Finally - a small request. Can we PLEASE stop giving credit (or blame) for the nation’s economy without TRYING to recognize that Congress writes the bills that the President signs, and that it can take awhile for government action to actually have a result that can be measured?_ ---
**Author:** ![BrainGlutton](https://avatars.discourse-cdn.com/v4/letter/b/82dd89/32.png) [@BrainGlutton](https://boards.straightdope.com/u/BrainGlutton)\ **Post date:** [January 8, 2009, 8:06pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/47 "2009-01-08T20:06:38Z")
> [@Aquila\_Be](#): > > The West Wing? Delusional soap opera written to entertain morons. > > Here’s a little bit of unpleasant reality for you from post #12 in this thread: > > So much for the: Remember when we had an Economist as “El Presidente”. > > What the hell is it with you and your passion for having a “Leader” anyway? Aren’t you above the age of consent yet? Reacalibrate humor meter. Reboot central nervous system. Any unsaved data will be lost. ---
**Author:** ![Liberal](https://avatars.discourse-cdn.com/v4/letter/l/848f3c/32.png) [@Liberal](https://boards.straightdope.com/u/Liberal)\ **Post date:** [January 8, 2009, 8:18pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/48 "2009-01-08T20:18:29Z")
Obama not only understands economics, he is willing to engage the nation’s best and brightest economists. It is they who say his understanding is profound. I frankly value their opinions more than that of the OP. ---
**Author:** ![zamboniracer](https://avatars.discourse-cdn.com/v4/letter/z/e9a140/32.png) [@zamboniracer](https://boards.straightdope.com/u/zamboniracer)\ **Post date:** [January 8, 2009, 9:09pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/49 "2009-01-08T21:09:50Z")
> [@Algher](#): > > _Finally - a small request. Can we PLEASE stop giving credit (or blame) for the nation’s economy without TRYING to recognize that Congress writes the bills that the President signs, and that it can take awhile for government action to actually have a result that can be measured?_ Look, if you’re trying to be reasonable like that, you’ll never make it as a talking head pundit. 😉 ---
**Author:** ![Algher](https://avatars.discourse-cdn.com/v4/letter/a/3d9bf3/32.png) [@Algher](https://boards.straightdope.com/u/Algher)\ **Post date:** [January 8, 2009, 9:24pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/50 "2009-01-08T21:24:56Z")
> [@zamboniracer](#): > > Look, if you’re trying to be reasonable like that, you’ll never make it as a talking head pundit. 😉 That is too bad, because I have a great face for radio. ---
**Author:** ![Little\_Nemo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/little_nemo/32/3120_2.png) [@Little\_Nemo](https://boards.straightdope.com/u/Little_Nemo)\ **Post date:** [January 9, 2009, 3:40am UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/51 "2009-01-09T03:40:10Z")
> [@](#): > > Can we PLEASE stop giving credit (or blame) for the nation’s economy without TRYING to recognize that Congress writes the bills that the President signs, and that it can take awhile for government action to actually have a result that can be measured? When Presidents stop taking the credit for a good economy, they’ll stop getting the blame for a bad one. ---
**Author:** ![BrainGlutton](https://avatars.discourse-cdn.com/v4/letter/b/82dd89/32.png) [@BrainGlutton](https://boards.straightdope.com/u/BrainGlutton)\ **Post date:** [January 9, 2009, 4:00pm UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/52 "2009-01-09T16:00:39Z")
> [@Little\_Nemo](#): > > When Presidents stop taking the credit for a good economy, they’ll stop getting the blame for a bad one. No, not even then. ---
**Author:** ![Markxxx](https://avatars.discourse-cdn.com/v4/letter/m/5daacb/32.png) [@Markxxx](https://boards.straightdope.com/u/Markxxx)\ **Post date:** [January 10, 2009, 4:08am UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/53 "2009-01-10T04:08:15Z")
The thing is politicans are NOT interested in solving issues they are interested in getting elected. You don’t win a presidental race by saying the truth, you tell people what they want to hear. Furthermore you aren’t understanding we have a federal system of government. This means you have to compromise. A state like Wyoming with half a million has as many Senators as California with 36 million. In order to get votes for California you have to give the Wyoming people something, even if it’s economically wrong. This accounts for the disproportion of mining and agriculture influence in America. Obama made tons of promises so he has to put these people to work. If he doesn’t he won’t get reelected. The thing is your misunderstanding people wanting to be elected with those wanting to do good. There are very few politicians at any level who care about anything than keeping their job. ---
**Author:** ![tim314](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tim314/32/3468_2.png) [@tim314](https://boards.straightdope.com/u/tim314)\ **Post date:** [January 11, 2009, 10:12am UTC](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059/54 "2009-01-11T10:12:06Z")
> [@Markxxx](#): > > There are very few politicians at any level who care about anything than keeping their job. If this cynical view were true, you’d think they’d take a job with better job security. I don’t deny politicians care about staying in office, and sometimes make decisions just to get reelected. But if they didn’t actually care a bit about the job they’re doing, they (at least guys at the Presidential level) could certainly take a much easier job for higher pay. [Previous page](https://boards.straightdope.com/t/will-we-ever-again-have-a-president-that-understands-the-rudiments-of-economics/480059.md?page=2)