Big egos and bad economics

The current debate over who should be replacing Ben Bernanke at the Federal Reserve should be a no-brainer, if you base it solely on abilities and sound judgment.  There is no good reason why President Obama shouldn’t appoint Janet Yellen.  But there is a lot of resistance to it anyway, and I imagine a lot of it is from the people who would rather see Larry Summers in the position.

Personally, I can’t believe people still take Larry Summers seriously.

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