Obamanomics as Political VaporwareFriday, February 29th, 2008
In politics, ambiguity, restraint and a lack of passionately held policy positions can be an advantage as the public wishfully projects their hopes and assumptions on to the candidate. Or it can simply mask the fact that the candidate has no well-thought out philosophy or basic command of the subject in question. This is great if it means the candidate is open to accepting well-considered “new thinking” but bad if the candidate simply picks up positions ad-hoc without really contemplating the downstream implications.
Senator Barack Obama’s recent sojurns in to trade policy on the campaign trail, which seem to be raw political appeals to rentier interests of the moment, are alarming economists generally associated with the Democratic Party ( Senator John McCain, the inevitable GOP nominee, isn’t any better informed on basic economics theory than is Obama – making 2008 a worrisome choice if the economy goes into the tank).