An Economist for the Court?
Last week, Supreme Court Justice John Paul Stevens announced his retirement kicking off one of Washington's favorite pastimes -- speculating on potential Supreme Court nominees, their political leanings and whether or not the opposing party will turn the confirmation process into a bloodbath.
Tim Kane, senior fellow at the Kauffman Foundation, takes another angle on Growthology, posing the question, "Why isn't there an economist on the Supreme Court?"
Far and away, the most important economic decisions are the longest-term ones, the ones with the deepest roots that establish the most fundamental institutions. What exactly are property rights so constituted in our society? Who sets prices? What information can be private, or should be transparent? What obligations do employers have to their employees: free contract, minimum pay, basic safety, paternalism, or more? Is there a right to eat or a right to be fed?
He even goes so far as to hold up Kauffman's Bob Litan as a potential nominee with dual degrees -- a Ph.D. in economics from Yale as well as a law degree from Yale. Likely? Most definitely not, but it seems that Kane has hit on something as there is a growing commentary with viewpoints all over the issue.
See the original post for yourself and join the feisty dialogue.