The candidates of both parties finally have realized that the defining issue of the 2012 presidential election will be job creation. President Barack Obama leads with a proposal that commentator Larry Kudlow calls, persuasively, a straight jacket rather than a jobs creator. The Wall Street Journal loves the plan put forth by the fast-fading Huntsman and slams the first-tier Romney plan. Meanwhile, a credible key to explosive jobs growth begins to come to the fore: a credible monetary policy prescription for a seriously stable dollar.
A sure signal of a rising policy vector? The Washington Post sends forth a top gunslinger to attack it — “it” being the gold standard and the GOP candidates for considering it. The Washington Post‘s Pulitzer-winning business and economics columnist Steven Pearlstein writes in his Sept. 10 column, “The magical world of voodoo ‘economists’“:
Too facile and too glib, Steve.
To call Keynes “the most important economic thinker of the 20th century” is, well, just weird. Ten years ago no less than The New Yorker’s John Cassidy wrote an extensive column, The Price Prophet, explaining why Hayek, not Keynes, was the most important economic thinker of the 20th century. Cassidy is no right winger. Pearlstein, do at least try to keep up.