Nothing New about These Neoliberals

Yuck, the noble adversary over at the Washington Note couples his always pretty crackling analysis with this gloomy glimpse into Obama's economic team, which includes nobody from the Economists for Edwards (sigh), and generally looks pretty flaccid. We pick up with a discussion of the newest Obama-economist, Jason Furman.

Furman (a friendly acquaintance of mine and close associate of one of my New America Foundation colleagues) is also well known for his budget-hawkery. He has been part of the Democratic Party economic class that has successfully stolen from the Republicans the ethic of fiscal conservatism and advocates a Social Security entitlement reform process that begins to wrestle with America's long term entitlement obligations.

To some degree, Furman manifests the interests and perspective of perhaps the leading neoliberal force in politics today, Robert Rubin. Furman could make a good case that his views may differ here and there, but my sense is that he's an essential spear-carrier of Rubinomics.

Given the rhetoric of Obama on redoing trade deals, of giving China a tough time on trade, and focusing on the real needs of working class Americans -- the choice of Furman surprises me though I certainly don't oppose it.

But calling a spade a spade, it's clear that Furman is no Dean Baker or Robert Blecker or Jared Bernstein -- all important economists who have been far more right as of late than the Rubin crowd in anticipating the stress points in globalization, the housing bubble, trade, and the like.