Casey Mulligan | |
---|---|
Academic background | |
Alma mater | Harvard University (BA) University of Chicago (PhD) |
Academic work | |
Discipline | Economics |
Institutions | University of Chicago Harvard University Clemson University |
Chief Economist of the Council of Economic Advisers | |
In office September 8,2018 –August 2019 | |
President | Donald Trump |
Casey B. Mulligan is an American economist and author. He is a Professor in Economics at the University of Chicago. [1] He served as chief economist for the Council of Economic Advisers in the Trump Administration from September 6,2018 to August 2019. [2] [3] [4]
After earning a Bachelor of Arts from Harvard University,Mulligan earned a PhD in economics from the University of Chicago in 1993. [1] [5] After completing his PhD,he became a Postdoctoral Fellow at the University of Chicago before starting a tenure-track in 1994. [1]
Mulligan has worked as a visiting professor at Harvard University,Clemson University,and the Harris School of Public Policy Studies. [6] He has written articles for RealClearPolitics, Newsweek , The Washington Times ,and National Review . [7] Mulligan also wrote for Economix,a New York Times blog. [8]
In 2012,Mulligan published The Redistribution Recession which argued that social welfare programs such as food stamps and unemployment benefits during the Great Recession disincentivized work and thus prolonged the recession. [9] [10] Mulligan has argued that the Patient Protection and Affordable Care Act ("Obamacare") disincentivizes work. [11] [12] Mulligan opposes paid sick days,arguing that they lead workers to take sick days even when they are not sick. [13] [14]
In 2020,he published You’re Hired!:Untold Successes and Failures of a Populist President,which praises President Trump's skills and his administration's policies. With Trump economic advisor Kevin Hassett,he co-authored an analysis of Biden's economic program during the 2020 presidential election. [15] [16]
In economics,a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. Recessions generally occur when there is a widespread drop in spending. This may be triggered by various events,such as a financial crisis,an external trade shock,an adverse supply shock,the bursting of an economic bubble,or a large-scale anthropogenic or natural disaster. There is no official definition of a recession,according to the IMF.
Arthur Betz Laffer is an American economist and author who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–1989). Laffer is best known for the Laffer curve,an illustration of the theory that there exists some tax rate between 0% and 100% that will result in maximum tax revenue for government. In certain circumstances,this would allow governments to cut taxes,and simultaneously increase revenue and economic growth.
Ian Arthur Bremmer is an American political scientist,author,and entrepreneur focused on global political risk. He is the founder and president of Eurasia Group,a political risk research and consulting firm. He is also founder of GZERO Media,a digital media firm.
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Austan Dean Goolsbee is an American economist and writer. He is the president of the Federal Reserve Bank of Chicago. Goolsbee formerly served as the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business. He was the chairman of the Council of Economic Advisers from 2010 to 2011 and a member of President Barack Obama's cabinet. He served as a member of the Chicago Board of Education from 2018 to 2019.
Uwe Ernst Reinhardt was a professor of political economy at Princeton University and held several positions in the healthcare industry. Reinhardt was a prominent scholar in health care economics and a frequent speaker and author on subjects ranging from the war in Iraq to the future of Medicare.
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A soft landing in the business cycle is the process of an economy shifting from growth to slow-growth to potentially flat,as it approaches but avoids a recession. It is usually caused by government attempts to slow down inflation. The criteria for distinguishing between a hard and soft landing are numerous and subjective.
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Tomas J. Philipson is a Swedish-born American economist who served as the Acting Chairman of the Council of Economic Advisers in the Trump administration. He departed from the position and the Council at the end of June,2020,to return to the University of Chicago. He holds the Daniel Levin Chair in Public Policy at the University of Chicago,with posts in the Harris School of Public Policy Studies,Department of Economics,and the Law School. He was a Director of the Becker Friedman Institute at the university.
Lawrence Alan Kudlow is an American conservative broadcast news analyst,columnist,journalist,political commentator,and radio personality. He is a financial news commentator for Fox Business and served as the Director of the National Economic Council during the Trump Administration from 2018 to 2021. He assumed that role after his previous employment as a CNBC television financial news host. By 2024 Kudlow was the vice chair of the board of the America First Policy Institute,a dark money nonprofit think tank developing policies for a potential second Trump presidency.
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Harald Friedrich Hans Volker Sigmar Uhlig is a German macroeconomist and the Bruce Allen and Barbara Ritzenthaler Professor of Economics at the University of Chicago,where he was the chairman of the Department of Economics from 2009 to 2012.
Scott B. Sumner is an American economist. He was previously the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University,a Research Fellow at the Independent Institute,and a professor at Bentley University in Waltham,Massachusetts. His economics blog,The Money Illusion,popularized the idea of nominal GDP targeting,which says that the Federal Reserve and other central banks should target nominal GDP,real GDP growth plus the rate of inflation,to better "induce the correct level of business investment".
The paradox of toil is the economic hypothesis that,under certain conditions,total employment will shrink if there is an increased desire among the population to take on paid work. According to the macroeconomist Gauti Eggertsson,this occurs when "the short-term nominal interest rate is zero and there are deflationary pressures and output contraction". When wages are pushed down by the simultaneous efforts of everyone in the labor force to work more even at lower wages,with interest rates against the zero bound,demand must fall because the only source of added demand would be added credit to compensate for those lower wages,credit which cannot be made available on any looser terms;this loss of demand from lower wages leads to a loss of jobs. The belief that there must necessarily be more work available if wages drop is an example of the fallacy of composition.
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