Well I'll be... An endorsement of Larry Summers for Fed Chair

[cthulu2016]

This tickled me so I thought I'd share. I posted something earlier about whether anyone really thinks Larry Summers would be the right choice for Fed Chair, and I was puzzled as to what an endorsement of him would even be like. So I was amused to later see that the Post blog had a link to both Paul Krugman's endorsement of Yellen and Tyler Cowen's endorsement of Summers.

Larry Summers vs. Janet Yellen
by Tyler Cowen on July 22, 2013 at 12:43 pm in Uncategorized | Permalink

Read Paul Krugman, Scott Sumner, Ezra Klein, and others on this. My thinking is simple. Public choice considerations constrain a looser monetary policy with either candidate. Otherwise, it is easier for me to imagine Summers having credibility with a Republican administration, and having a real voice, relative to Yellen. He simply has more right-wing street cred, keeping in mind that Yellen is a former Professor from Berkeley who has never really taken heat from the left, unlike Summers. I think that overall the voice of the Fed within government is a clear positive. The chance of a Republican administration, come the next election, is probably at least forty percent. Thus I would prefer Summers.

http://marginalrevolution.com/marginalrevolution/2013/07/larry-summers-vs-janet-yellen.html

When right-wing street-cred is a candidate's notable upside, what the hell is the down-side like?

(Note that Summner's "RW street-cred" derives from having, unlike Yellen, "taken heat from the left.&quot

[dkf]

1. Lol. What a twisted endorsement.

[Wilms]

2. ^