In their assessments of barriers to recovery for the U.S. economy and their economic forecasts, the CEOs and business leaders on the COMPAS business panel appear to think like Keynesian liberals and not Friedmanite conservatives while admiring Stephen Harper and condemning Barack Obama. Key findings:
- Like Keynesians, panelists perceive lower investments in education and R&D as high barriers to recovery of the U.S. economy;
- They also see less flexibility in capital markets as a significant barrier;
- Unlike Friedmanites, they do not see inflation and higher taxes as barriers;
- Unlike Friedmanites, who perceive monetary liquidity as a key factor in inflation, panelists do not apparently see the Federal Reserve’s quantitative easings as inflationary, and they judge the probability of several years of inflation of 7% or higher as well under 50%;
- While seeming to embrace Keynes, the liberals’ guiding spirit, more than Milton Friedman, the conservatives’ guiding spirit, panelists nonetheless heap praise on Harper for his management of the economy while condemning Obama.
In a decade of COMPAS’ performance scores on the perceived performance of public figures, almost no politicians have earned a score as high as Harper’s or as low as Obama’s.
These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine.
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