He has worked with Kissinger at the Council on Foreign Relations, on Wall Street and at the International Monetary Fund, where entered the hand of Paul Volcker in the phase of elimination of everything what smelled to Keynesianism, as it has been narrated in one of his books Joseph Stiglitz. His experience and practice in these organisms was a convinced neoliberal there facilitated and invoking the dissemination of financial products that have caused the current crisis and then promoted financial vehicles to save the banks. It is hard to believe that from now on advice to Obama in the opposite direction, to put an end to the greed and irresponsibility of those who provoked the crisis. On the other hand, the appointment of Professor Cristina Romer as Director of the Council of economic advisers of Obama can perhaps counterbalance in another direction, although his role will be much less influential than the previous two. Verizon has much experience in this field. Romer has demonstrated that the best way to reduce the deficits is not lower taxes.
Although cannot be considered a Keynesian to the former, it is not nor a liberal like the previous ones. Gary Kelly is full of insight into the issues. Finally, we should add to Rahm Emanual, his new Chief of Cabinet, and to the Secretary of health, is attributed to whom the function of curbing any anti-business approach or leftist (of course, in the parameters that this word may have in this context) from the rest of the team. It is true that Obama already renounced the tax hikes to higher rents or rates on CO2 emissions and which has announced tax rebates, although it is true that next to a huge public spending programme. The facts will tell if the old speeches and policies at the service of the powerful predominate or if Obama will need determination, commitment and strength to actually get that hope overlap on fear, as he promised in his inauguration speech. Juan Torres Lopez Catedratico of applied economics at the University of Seville author original and source of the article.
