Obama Names Board of Economic Advisors

November 26th, 2008 at 12:00 am

austan goolsbee barack obama economic recovery advisory board

President-Elect Barack Obama is inheriting the suckiest worst economic situation the US has had since the great depression.  His term officially starts in January but he is now busy appointing people to head up his teams that will give him advice and basically formulate policies on everything during his administration.   Of course the economy is on top of the list.

President-elect Barack Obama on Wednesday announced the formation of an Economic Recovery Advisory Board.  The newly established economic advisory board will be expected to regularly brief Obama, Vice President-elect Joe Biden, and their economic team with independent, nonpartisan information and analysis that will help the administration formulate a plan for economic recovery. The board will be headed by former Federal Reserve Chairman Paul Volcker.

More interestingly, the chief economist of the Recovery board is an internet policy expert, Austan Goolsbee. Goolsbee is an economics professor at the University of Chicago Business School whose research focuses on the Internet, the new economy, government policy, and taxes. In his new role, Goolsbee will act as the primary liaison between the economic advisory board and the Obama administration. Obama also announced he is nominating Goolsbee to be one of the three members of his Council of Economic Advisers.[CNET]

Obama said that the rest of the members of the Economic Recovery Advisory Board will be announced in the coming weeks.  He said his administration will seek out economic advice from "innovative thinkers who may not always subscribe to conventional wisdom," whether they come from the high tech or manufacturing sectors.