Tag: economic crisis

President Barack Obama faces an unprecedented financial crisis, with each new day bringing fresh challenges and, often, harrowing economic news. To make matters worse, his top economic adviser, Austan Goolsbee, has just left his post. Luckily, National Journal has compiled a list of five top economic minds that should replace him—and could, more broadly, inject some bold thinking into Washington. Daron Acemoglu, author of Why Nations Fail, is on that list. The young MIT professor, who was recently named one of the world’s Top 100 Global Thinkers by Foreign Policy, has the right stuff when comes to theories around catalyzing innovation and growth—two factors that can create ways to employ the fourteen million Americans looking for jobs right now.

Acemoglu, the article notes, is also valuable because he's not shy about sharing his suggestions. Citing a recent blog post the renowned economist wrote for the Harvard Business Review, National Journal highlights some of Acemoglu's fears, like threats around patent protection, the pace of innovation, and diversion of financial talent. Then, we're told his solutions: attracting highly skilled immigrants, commercializing research, and focusing on green energy.

Clearly National Journal agrees that Daron Acemoglu is one of America's brightest academic stars, a man who shows us what separates the haves from the have-nots: strong laws, and, most vitally, dependable and transparent governments. His expertise stretches across a full spectrum of macroeconomics, with a focus on the role of institutions in economic development that will open the eyes and minds of anyone—say, President Obama—who has a vested interest in our collective and, at this point, uncertain, financial future.

Read more about economics speaker Daron Acemoglu