We were delighted to learn that President Obama has picked Austan Goolsbee to succeed Christine Romer as chair of the Council of Economic Advisers. In addition to teaching at the University of Chicago and writing columns for the New York Times, Austan also served as a senior economist at PPI.
He developed several innovative proposals for us, on the changing significance of large budget deficits, and on the need to democratize capitalism by offering working families new opportunities to build personal financial assets. Here are two of his proposals:
With the U.S. economy mired in sluggish growth and high unemployment, President Obama certainly needs the kind of rigorous and creative economic perspective that Austan brings. Besides which, he is one seriously funny dude.
So congratulations and good luck to our former colleague.