Like many of you, I was a bit dismayed when Obama turned to Robert Rubin and his coterie for economic advice. I now admit that I was mistaken. According to Tuesday's Wall Street Journal, Citicorp has been paying Robert Rubin $17 million a year for a part-time job with no responsibility. Judging by the company's performance, the expectations placed on him might not be particularly high.
My full-time teaching job leaves me little spare time, but I think I could put aside a few hours each week in return for $17 million. I would be willing to take a pay cut in return for cutting back a few extra hours.
If you're like me, and think that you would want an opportunity like that, I would hope that Pres. Obama would enact policies that would give everybody an opportunity like Robert Rubin. With this in mind, I will put myself an unofficial adviser to the Obama campaign, suggesting the slogan: Rubinomics for the People.