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President and economy: The limits of power


Friday, June 10, 2016

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Kelly Cunningham, National University System

Answer: NO

"The office of the president is not established to exercise kingly or autocratic powers, as the Constitution specifically restrains unitary executive power. Indeed, attempting to control the shape, direction, velocity of the macroeconomy is ineffective and ultimately futile. The record of centrally planned/directed economic failure is never ending. Topdown planning lacks the knowledge necessary in the complexities of society. Instead of mutually beneficial relationships created with market direction, executive fiat leaves economic winners and losers."