Position: Assistant to the President for Economic Policy and Director of the National Economic Council.
Job Description: This is a temporary position open immediately. Term ends inauguration day, January 20, 2012. There is a .0000000000000001% chance this position could be extended an additional 4 years. Statistical average based on current polling popularity and is subject to negative change.
Requirements: Candidate must be proficient at sleeping through important economic meetings.
Applicant must have prior experience managing complex financial instruments. Endowment fund management preferred. A demonstrated proficiency in losing at least 1.8 billion of wealth is required – candidate will be responsible for losing trillions of tax dollars.
We prefer the candidate to be a male who believes that innate differences in the female brain size make them inferior in math and science. This is extremely important because in the recent past part of this job required the silencing of females who wanted to regulate derivatives.
Candidate will be offered high scores if he had anything to do with the dismantling of depression era regulation (like the Glass-Steagall Act) which limited banking risk.
Education: Harvard preferred.
Note: We encourage the Green Movement, your ecological thinking should be identical to the last economic adviser’s, you will be required to memorize and repeat it when dealing with the World Bank:
“DATE: December 12, 1991
“FR: Lawrence H. Summers
“‘Dirty’ Industries: Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]? I can think of three reasons:
“1) The measurements of the costs of health impairing pollution depends on the foregone earnings from increased morbidity and mortality. From this point of view a given amount of health impairing pollution should be done in the country with the lowest cost, which will be the country with the lowest wages. I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that.
“2) The costs of pollution are likely to be non-linear as the initial increments of pollution probably have very low cost. I‘ve always though that under-populated countries in Africa are vastly UNDER-polluted, their air quality is probably vastly inefficiently low compared to Los Angeles or Mexico City. Only the lamentable facts that so much pollution is generated by non-tradable industries (transport, electrical generation) and that the unit transport costs of solid waste are so high prevent world welfare enhancing trade in air pollution and waste.
“3) The demand for a clean environment for aesthetic and health reasons is likely to have very high income elasticity. The concern over an agent that causes a one in a million change in the odds of prostrate cancer is obviously going to be much higher in a country where people survive to get prostrate cancer than in a country where under 5 mortality is is 200 per thousand. Also, much of the concern over industrial atmosphere discharge is about visibility impairing particulates. These discharges may have very little direct health impact. Clearly trade in goods that embody aesthetic pollution concerns could be welfare enhancing. While production is mobile the consumption of pretty air is a non-tradable.
“The problem with the arguments against all of these proposals for more pollution in LDCs (intrinsic rights to certain goods, moral reasons, social concerns, lack of adequate markets, etc.) could be turned around and used more or less effectively against every Bank proposal for liberalization.”
Please send resume and cover letter to the White House, attention: Barack Obama
Apart from the above CBC “The Passionate Eye” look at the background to the financial crisis its documentary group has just prepared a 4 hour look at the “Meltdown” Most of this should be well known to members of this site. Will be interesting to see if PBS ever picks up the series.