Posted by AzBlueMeanie:
Romney economic advisers Kevin Hassett, Glenn Hubbard, Greg Mankiw and John Taylor put out a white paper last week purporting to support the campaign’s specious claim that Romney’s plans would create “12 million jobs.”
Brad DeLong eviscerates these supply-side fraudsters claims in Things Wrong with Hassett, Hubbard, Mankiw, and Taylor, "The Romney Program for Economic Recovery, Growth, and Jobs".
A long point-for-point analysis too complex to post excerpts here. Worth the read.
UPDATE: Ezra Klein weighs in, Economists to Romney campaign: That’s not what our research says:
On Tuesday, the Romney campaign responded to the fire it’s taking from economic analysts by unleashing some artillery of their own. They released a paper by four decorated economists associated with the campaign — Glenn Hubbard, Greg Mankiw, John Taylor, and Kevin Hassett — that tried to lend some empirical backing to “The Romney Program for Economic Recovery, Growth, and Jobs.”
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Each of these sections include supporting documents from independent economists. And so I contacted some of the named economists to ask what they thought of the Romney campaign’s interpretation of their research. In every case, they responded with a polite version of Marshall McLuhan’s famous riposte. The Romney campaign, they said, knows little of their work. Or of their policy proposals.
Continue reading Economists to Romney campaign: That’s not what our research says.
Faith based supply-side "trickle down" economics is a fraud. There is no empirical evidence to support it. It is time to throw this fraud on the ash heap of history.
BONUS: The Romney campaign says stimulus doesn’t work. Here are the studies they left out. "Thirteen good studies conclude that stimulative policies are effective, while two studies concluded the opposite. The consensus is clear: economists think stimulus works."
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