Thursday, August 23, 2012

PE: ECONOMISTS BACK ROMNEY’S ECONOMIC PLAN

526 Economists (5 Nobel Laureates among them) endorse Mitt Romney’s economic plan.

Gary Becker, Nobel laureate
Robert Lucas, Nobel laureate
Robert Mundell, Nobel laureate
Edward Prescott, Nobel laureate
Myron Scholes, Nobel laureate

“We enthusiastically endorse Governor Mitt Romney’s economic plan to create jobs and restore economic growth while returning America to its tradition of economic freedom.”

Representative signatories from United States’ top 10 Schools of Economics

(as evaluated by US News and World Report)

HARVARD (Tied for the #1 rank)–
-Robert J. Barrow
-Martin Feldsein
-Greg Mankiw
-Jeffrey Miron
-Joshua Coval
-Carl Kester

UNIVERSITY OF CHICAGO (Tied for the #1 rank)-
-Fernando Alvarez
-John Cochrane
-Steven Davis
-Eugene Fama
-Thomas J. Philipson
-Gary Becker (Nobel Laureate)
-Robert Lucas (Nobel Laureate)

PRINCETON (Tied for the #1 rank)-
-Harvey Rosen

STANFORD-
-Michael Boskin
-John Cogan
-Eric Hanushek
-Melvyn Krauss
-Edward Lazear
-John Taylor
-Kevin Warsh
-Myron Scholes (Retired) (Nobel Laureate)

-NORTHWESTERN UNIVERSITY-
-Martin Eichenbaum
-Aaron Gellman
-Thomas Hubbard

UNIVERSITY OF PENNSYLVANIA-
-Joao Gomes
-Scott Harrington

COLUMBIA UNIVERSITY
-Charles Calomiris
-Richard Clarida
-Phoeus Dhrymes
-Glenn Hubbard
-Robert Mundell (Nobel Laureate)

UNIVERSITY OF MINNESOTA
-John Chipman
-Frank Murray
-Stephen Parente
-Christopher Phelan

President Obama has:
-Relied on short-term “stimulus” programs, which provided little sustainable lift to the economy, and enacted and proposed significant tax increases for all Americans.
-Offered no plan to reduce federal spending and stop the growth of the debt-to-GDP ratio.
-Failed to propose Social Security reform and offered a Medicare proposal that relies on a panel of bureaucrats to set prices, quantities, and qualities of healthcare services.
-Favored a large expansion of economic regulation across many sectors, with little regard for proper cost-benefit analysis and with a disturbing degree of favoritism toward special interests.
-Enacted health care legislation that centralizes health care decisions and increases the power of the federal bureaucracy to impose one-size-fits-all solutions on patients and doctors, and creates greater incentives for waste.
-Favored expansion of one-size-fits-all federal rulemaking, with an erosion of the ability of state and local governments to make decisions appropriate for their particular circumstances.

Applying these principles, Governor Romney would:
-Reduce marginal tax rates on business and wage incomes and broaden the tax base to increase investment, jobs, and living standards.
-End the exploding federal debt by controlling the growth of spending so federal spending does not exceed 20 percent of the economy.
-Restructure regulation to end “too big to fail,” improve credit availability to entrepreneurs and small businesses, and increase regulatory accountability, and ensure that all regulations pass rigorous benefit-cost tests.
-Improve our Social Security and Medicare programs by reducing their growth to sustainable levels, ensuring their viability over the long term, and protecting those in or near retirement.
-Reform our healthcare system to harness market forces and thereby reduce costs and increase quality, empowering patients and doctors, rather than the federal bureaucracy.
-Promote energy policies that increase domestic production, enlarge the use of all western hemisphere resources, encourage the use of new technologies, end wasteful subsidies, and rely more on market forces and less on government planners.

VIDEO ON CNBC (Larry Kudlow)
http://video.cnbc.com/gallery/?video=3000109473#

US NEWS AND WORLD REPORT
http://www.usnews.com/opinion/blogs/peter-roff/2012/08/16/nobel-economists-back-mitt-romneys-plan

1 comment:

Tyler said...

what a crazy world we live in presently. All articles today are spot on and should be viewed by all in the world. Love reading them all.

Thanks.