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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Christina Romer To Head Obama's Economic Advisers

Christina Romer, a Cal-Berkeley economist and half of a husband-wife team of economists, will be appointed chairman of the Council of Economic Advisers by President-elect Barack Obama, members of his team tell The Post.

Romer would join Tim Geithner, Larry Summers and Peter Orszag as the fourth member of Obama's Economics Brain.

Romer, an Obama supporter, was set to move to Harvard earlier this year, but the offer was rescinded.

Here's some of her work.

-- Frank Ahrens

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By Frank Ahrens  |  November 24, 2008; 10:38 AM ET
Categories:  The Ticker  | Tags: Obama, economic team  
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Comments

Please- It is not "Cal-Berkeley". It is UC Berkeley, or, in the alternative, Cal. I've seen three botched references to this school today-the worst being "the university at berkeley" by Savannah Guthrie of NBC news. Get it right you people back east.

Posted by: Tess6 | November 24, 2008 1:02 PM | Report abuse

As a UCLA grad, I've heard Cal-Berkeley and UC-Berkeley used interchangeably for the past forty years. I didn't realize there was a distinction beyond the fact that the former is less formal.

Posted by: hstahlke1 | November 24, 2008 1:34 PM | Report abuse

So, it's NOT "Frisco"? :-)

Posted by: GWGOLDB | November 24, 2008 1:39 PM | Report abuse

When I lived there it was usually just Cal or UCB or occasionally "Berserkeley" (which mainly meant the town) and sometimes "Telegraph Avenue North", or the Oakland Trib might refer to it as 'Moscow'.

Posted by: Samson151 | November 24, 2008 2:03 PM | Report abuse

Tess6 is right that it is not properly called 'Cal-Berkeley' (and as you can see, we Cal alums don't really like it being called that) but come on, it isn't a big deal. We all know what school the various terms refer to. I think just 'Berkeley' works fine. In any case, the name of our fine institution is really irrelevant to this article.

Posted by: polycalsq | November 24, 2008 2:52 PM | Report abuse

Christina Romer’s appointment means that we will have at the Council of Economic Advisers an economist with a background in highly relevant economic history and with moderate Keynesian sympathies - just what we need. It is to be hoped that she underatands that one of the key lessons of Keynes is the importance of constructive US leadership in international economic cooperation - including in the international coordination of key economic policies, in building up effective international economic institutions, and in safeguarding free trade. She will be familiar with literature like Donald Moggridge’s biography of Keynes and Donald Markwell’s “John Maynard Keynes and International Relations”, which I think are very helpful in thinking and working our way - nationally and globally - through the present muddle.

Posted by: DSLamont | November 24, 2008 8:09 PM | Report abuse

I am convinced I have the answer to our economic troubles. This whole thing started with the real estate crises and must be fixed with real estate. This is not Harvard economics, it is 5th grade economics. It is simple supply and demand. If you get a thorn in your foot you do not get a neck massage, if your economic system is harmed by the real estate industry we do not need to bail out banks and their executives. We must create demand for real estate again and that will spark the rest of the economy including the automobile industry, banking, construction, insurance, manufacturing and everything else. The way to do this is by putting a zero percent capital gains tax on any piece of real estate purchased over the next 2 years (or some trial period) no matter when you sell it, 1 day, 1 week 1 year 10 years this property will be exempt from capital gains from this purchaser. This will get investors off the fence and properties will start moving again thus stabilizing the price making others eager to purchase and banks willing to lend. The government has nothing to lose and everything to gain because no one is buying and selling now anyway so there are no lost capital gains anyway. If this does not produce dramatic results like I am sure it will we can sweeten the pot a little by giving a 10, 20 or 30% tax credit on newly purchased real estate. Definitely a doctor, lawyer or others with a high fed. tax liability will purchase a property to help offset it.

Posted by: chuchu1248 | December 2, 2008 7:37 PM | Report abuse

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