McCain Adviser Attacks Clintonomics

Insightful.. and probably true

I am not voting republican this time around. However I do agree with the assessment. The lower taxes allowed for more money to be used in R&D with the same profit margins. The R&D allowed for rapid development of computer hardware/software which did lead to a bubble due to greedy speculators (Similar to our new found housing bubble).

Most likely the events of the 80's did impact the rate in which we developed, deployed, and initially caused us to be the world leader in information technology.

What makes both the Republican and Democrat so frustrating is they both have a lot of really good policies stances on different issues. However on hot topics the Democrats disagree with anything the Republicans state. These parties have turned into extremes instead of being more centric where compromise can occur. Our current government can get nothing substantial done because neither side will compromise. Its sad really.

Tim of OR @ Apr 03, 2008 16:36:30 PM

Front Page News

Wow, someone who seems to understand why things in an economy really happen, as opposed to most politicians who seem to want to give the media a sound bite and then move on to the free lunch.

It seems to me that economic change is a trailing one. Policies that influence how a market economy performs lag behind those changes, sometimes for a period of one or two presidential terms.

I have to wonder though at the lack of attention this will get. Seems like the Media in general likes it's sound bites, and time at the trough as well

Lloyd Wiebe of NV @ Apr 03, 2008 15:45:33 PM

productivity growth not real in 90's

McCain's argument that productivity growth in the 90's was high isn't true. The productivity growth in the 90's was a bubble. Meaning, irrational exuberance made it seem high at the time, just like the stock market growth, etc...saying productivity growth was real is like saying the bubble never popped.

http://query.nytimes.com/gst/fullpage.html?res=9B04E0D9143DF931A3575BC0A961958260&sec=&spon=&pagewanted=all

A more sober analysis will conclude that computers have simply replaced repetitive jobs rather than increased overall population productivity. The internet has increased efficiency, not productivity. Unfortunately, realizing efficiency growth was real only means we get the same amount done with less people, rather than get more done with the same amount of people.

shayne of CA @ Apr 03, 2008 15:42:03 PM

MCCain's advisor

If McCain hires advisors to compensate for his own lack of knowledge on how the economy works he better not choose Douglas Holtz-Eakin. He suggests the IT boom in the late nineties was due to the good policies of the early eighties? What about the recession in the early nineties? This guy does not have a clue. Obviously the boom was caused by the good policies of the Romans!

Marc Schluper of OR @ Apr 03, 2008 15:36:30 PM