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Economists' View on the 2008 Presidential Candidates

During times of great economic crisis and debate, the opinions of economists are as important as any other groups. The Economist did a great service to its readers by surveying as many prominent economists as they could and here is what they found out.
A total of 142 responded, of whom 46% identified themselves as Democrats, 10% as Republicans and 44% as neither. This skewed party breakdown may reflect academia’s Democratic tilt, or possibly Democrats’ greater propensity to respond.
Eighty per cent of respondents and no fewer than 71% of those who do not cleave to either main party say Mr Obama has a better grasp of economics. Even among Republicans Mr Obama has the edge: 46% versus 23% say Mr Obama has the better grasp of the subject.
A candidate’s economic expertise may matter rather less if he surrounds himself with clever advisers. Unfortunately for Mr McCain, 81% of all respondents reckon Mr Obama is more likely to do that; among unaffiliated respondents, 71% say so.

On our one-to-five scale, economists on average give Mr Obama’s economic programme a 3.3 and Mr McCain’s a 2.2.

On his plans to fix the financial crisis, Mr Obama averages 3.1, a point higher than Mr McCain.
My one issue with Obama's plan is his dubious stance on free trade and globalization. The anti-NAFTA stance he promoted to compete in Ohio and Pennsylvania is hopefully a campaign strategy and not a governing one. Protectionism will bring the demise of this country, not its prosperity. The economists surveyed also happened to favor McCain over Obama only in the issue of free trad and globalization.
Mr McCain gets his highest mark, an average of 3.5 and a clear advantage over Mr Obama, for his position on free trade and globalisation. If Mr Obama “would wake up on free trade”, one respondent says, “I could get behind the plans much more.”
The complete results are available here - The Economist poll of academic economists

So, there you go. Economists favor Obama over McCain overwhelmingly.

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I must add another huge endorsement of academics for Obama.

61 Nobel Laureates in Science Endorse Obama

A group of 61 Nobel Laureates have gotten together to endorse Barack Obama for President. Their letter and the signatories are below. This is the largest number of Nobel Laureates to ever endorse a candidate for office, more than endorsed either Gore or Kerry. (Kerry had 48 total.) That is a remarkable statement. Here is the link to the original letter of endorsement.

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