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Obama's Big Experiment

- Abstract

FDR had the New Deal, LBJ the Great Society. But the economic adventurism of Barack Obama lacks a catchy nickname, and it deserves one, because it is more innovative and path-breaking than most conservatives and many on the left think. While Obama’s policies appear on the surface to derive from standard liberal orthodoxy—regulate more, spend more, tax more—Obama and the White House economic team have, in fact, plucked cutting-edge economic theories from the graduate-school classroom, scaled them up to national size, and beta-tested them on the $15 trillion American economy.

Call it the Big Experiment.

About the Author

James Pethokoukis is an editor and blogger at the American Enterprise Institute. His articles on economics for Commentary include “Paul Ryan’s Hope” (June) and “Let There Be Growth and/or Inflation” (January).