The New Economics

[Tom Palven]

President Obams's Council of Economic Advisors has announced that new efficiencies employed by the Obama administration will allow the US to continue to implement its Keynesian efforts to stimulate the economy and create jobs by increasing government spending, while simultaneously reducing spending and US government debt. "We are able to accomplish this by employing increasingly rapid policy shifts to keep us ahead of the curve", said US Treasury Secretary Timothy Geithner. "What the authoritarian top-heavy Russian Empire achieved with Five-Year Plans we can now accomplish with Five-Week Plans."
The new economic policy is said to be based on the US military model used in the war in Afghanistan, where overall strategy is shifted by major changes that we can believe in every five weeks.

[Tom Palven]

Law Professor Butler Shaffer, whose specialty is large institutions, has some insight into US economic woes. He notes that family-owned companies often fail when they go public and lose sight of why they were created in the first place. The objective of the original private interests are usually to make profits over a long term to serve the family and it's heirs. After going public, the objectives of the new management team often changes. The new executives may be more interested in being on a large number of corporate boards, increasing their own profiles and salaries, and improving their golf games than in the long-term survival of the company- thus their emphasis on quarterly profits.

The US government, the Democratic Party, and General Motors qualify as failing institutions, completely oblivious to their original intentions, while the US Republican Party failed a long time ago.