A presidential candidate who expects to be taken seriously must convince voters that he has at least a plausible prescription for prosperity. So, no presidential campaign is complete these days without a network of economists to feed the candidate ideas on how to deal with unemployment, inflation and economic growth. The technical ability and political insights of these experts can make or break a campaign—as illustrated by George McGovern's 1972 economic program that turned into a vote-losing albatross. Moreover, the ideas of the economists who advise the eventual winner can shape...
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