Now, Who to Head the Council of Economic Advisors?

So, Ben Bernanke will take over for Alan Greenspan at the helm of the Fed. That leaves a vacancy at the top of the CEA. Now the CEA Chairmanship has never been the plumest of jobs - it's less important than Fed Chairman or Treasury Secretary and, at least recently, it is a good spot from which to take whippings by the press corps, especially if you say something a little too honest, albeit intelligent (or obvious even), for the political sphere to take. Nonetheless, it is a place from which one's work and ideas have access to a powerful audience, and for the right person, the job can take on more influence than it has traditionally demonstrated. And it is not the worst thing to have on your resume.

So who should it be? In my view, someone from outside academia, a market economist. Also, someone who has a strong record of being correct. Policy affects real people, so we need someone who sees the effects of policy in the real world and has made smart calls that have practical applications. Based on that criteria, a good choice would be...Brian Wesbury.

UPDATE: I am on a roll...see here.