Obamanomics

Interesting post about Obama's economic philosophy on the Freakonomics blog. Money quote from the University of Chicago's Richard Epstein:

Obama comes from the tradition that thinks you can get your way on social justice and economic issues without affecting productivity very much — and that’s simply living in a dream world. … [Obama and his economics team] are very smart, but the problem is these high-I.Q. guys always think they can square the circle; they always believe they can beat the system with a cleverer system, and they always fail.

You can find my comment in the discussion here. This guy makes a good point and this is perhaps the funniest observation.