<http://www.tnr.com/politics/story.html?id=4d40a39e-8f57-4054- bd99-94bc9d19be1a>
Like their intellectual godfather Thaler, the Obama wonks aren't particularly interested in tearing down existing paradigms, just adjusting and extending them when they become outdated. (Thaler urges his students to master the same traditional, mathematical models their colleagues do if they want to be taken seriously.) For example, a central tenet of the economic thinking favored by Bill Clinton and his Treasury secretary, Robert Rubin, was that cutting the deficit lowers long-term interest rates, which in turn stimulates the economy. The Obamanauts are perfectly willing to accept the relationship between long-term rates and economic growth. But recent evidence suggests that low rates weren't quite as central to the success of the Clinton years as they appeared, and that investments in infrastructure and R&D might be as important as deficit reduction. Not surprisingly, Obama plans to focus less on the deficit than Clinton did.
The Clintonites were moderates, but they were also ideological. They explicitly rejected the liberalism of the 1970s and '80s. The Obamanauts are decidedly non-ideological. They occasionally reach out to progressive think tanks like the Economic Policy Institute, but they also come from a world-- academic economics--whose inhabitants generally lean right. (And economists at the University of Chicago lean righter than most.) As a result, they tend to be just as comfortable with ideological diversity as the candidate they advise. Just before the Iowa caucus, I saw Goolsbee approach New York Times columnist David Brooks in Des Moines and gush when the quirky conservative agreed to pose for a picture.