As Glenn Hubbard Advises the Presidential Candidates on Economic Policies – He Also Misrepresents

Glenn Hubbard calls for smarter regulations to address the current financial crisis. While it hard to disagree with his plea, this offends me:

Now, consider the candidates' economic philosophies. John McCain champions openness, low taxes and efficient regulation. Barack Obama is more skeptical of gains from trade and global finance, and he favors tax increases on capital and a variety of regulatory solutions. In this environment, these differences are revealing (and the advantage goes to McCain).

Glenn’s praise of McCain is simply wrong. McCain used to champion the removal of regulations but now he has flipped-flopped into an uber-regulator who abhors short selling and thinks the head of the SEC should be fired. I seriously doubt Glenn thinks such inconsistencies from our policy makers is a good idea. I’ll leave it to the economists advising Obama as to Glenn’s claim that they don’t believe in the gains from trade.