Lawrence B. Lindsey has held leading positions in government, academia, and business. He has been assistant to the president and director of the National Economic Council at the White House. He also served as a governor of the Federal Reserve System, special assistant to the president for domestic economic policy, and senior staff economist for tax policy at the President's Council of Economic Advisers. Mr. Lindsey taught economics at Harvard University and is currently president and CEO of the Lindsey Group. He is the author of Economic Puppet Masters (AEI Press, 1999) and The Growth Experiment(Basic Books, 1990).
President and CEO, Lindsey Group, 2003-present
Assistant to the President for Economic Policy and Director of the National Economic Council, White House, 2001-2002
Chief Economic Adviser, George W. Bush Campaign, 1999-2000
Arthur F. Burns Scholar in Economics, AEI, 1997-2001
Managing Director, Economic Strategies, 1997-2001
Chairman, Board of the Neighborhood Reinvestment Corporation, 1993-97
Governor, Federal Reserve System, 1991-97
Special Assistant to the President for Domestic Economic Policy, White House, 1989-91
Associate Professor, Harvard University, 1984-89
Citicorp/Wriston Fellow for Economic Research, 1988
Senior Staff Economist for Tax Policy, President's Council of Economic Advisers, 1981-84
Prime Minister Shinzo Abe is attempting an aggressive reform program in order to revitalize the Japanese economy. Can he succeed? We believe he can, but only if he aims his "third arrow" of structural reform at the right target.
Mr. Abe's "Three Arrows" program consists of renewed fiscal stimulus, aggressive monetary easing and significant structural reform. We believe he will succeed—if he aims his "third arrow," structural reform, at Japan's capital allocation and corporate governance practices.
Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank's misfortune for their own gain.
There can be an appropriate place for government subsidies to influence the choice of vehicle fuel technology. But such choices should be subject to rigorous cost benefit analysis with a high threshold for approval.
The fiscal stimulus was both so expensive and so badly flawed that it was rendered ineffective; a recent paper that vindicates the plan fails to measure the number of people who found work and the effectiveness with which the Obama stimulus created jobs.