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Are Politicians Talking Down the Economy?

Dave Hoffman

Dave Hoffman is the Murray Shusterman Professor of Transactional and Business Law at Temple Law School. He specializes in law and psychology, contracts, and quantitative analysis of civil procedure. He currently teaches contracts, civil procedure, corporations, and law and economics.

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6 Responses

  1. Mike Guttentag says:

    I thought it was downright weird to see the Secretary of the Treasury telling everybody how awful things are in the economy just to get the bailout legislation passed.

  2. dave hoffman says:

    Well, Mike, it’s an interesting point, but from everything I understand about the context of Paulson’s statements, we really were (are?) on a precipice, and some kind of government intervention was an emergent necessity. Also, not sure what Paulson personally gains from talking down the economy (contra politicians facing election in 20 odd days).

  3. Richard Thomas says:

    Anyone looking for insight on the flaws and the solution (major overhaul) to the fix the system can find them on http://coinage.me

    It goes into detail how the summary information needed to actually manage a fiat currency system is not available and therefore cannot be properly managed.

    Furthermore our information system systems are not designed correctly to support such a system the data is all disparate.

    The is referenced by one of Obama’s advisors and can be read at the Obama link below.

    http://tinyurl.com/52bczy

  4. Richard Thomas says:

    Anyone looking for insight on the flaws and the solution (major overhaul) to the fix the system can find them on http://coinage.me

    It goes into detail how the summary information needed to actually manage a fiat currency system is not available and therefore cannot be properly managed.

    Furthermore our information system systems are not designed correctly to support such a system the data is all disparate.

    The is referenced by one of Obama’s advisors and can be read at the Obama link below.

    http://tinyurl.com/52bczy

  5. Nate Oman says:

    Dave: Your point is well-taken. Certainly, campaigning politicians have a set of perverse incentives when it comes to economic confidence. What is striking about this crisis is that office holders — who have a slightly different set of incentives — have also be remarkably glum. The Economist’s Buttonwood collumn from last week had nice discussion of the issue as well.

  6. Mike Guttentag says:

    Nate. Thanks. The article captured my sentiments to a tee.