People I (Mostly) Admire 61. Was Austan Goolsbee’s First Visit to the Oval Office Almost His Last?
Feb 5, 2022
Austan Goolsbee, former chairman of the Obama administration’s Council of Economic Advisors and a seasoned economist who dabbles in improv comedy, shares his unique journey from academia to the heart of government. He reveals how improv techniques have influenced his teaching approach. Goolsbee also candidly reflects on the automotive bailout decision, discussing past skepticism and the high-stakes environment of the Oval Office, while emphasizing the need for diverse perspectives in economic policymaking.
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Campaign Advisor
- Austin Goolsbee advised Obama's Senate campaign, calculating the cost of opponent Alan Keyes's tax plan.
- Goolsbee humorously confronted Obama about stealing his "skinny guy with a funny name" bit.
Policy vs. Strategy
- In politics, strategy people hold more power than policy advisors.
- Policy advisors react to events, while strategists dictate the overall direction.
Washington vs. Academia
- In Washington, time pressure is intense, and the standard of evidence is low, unlike in academia.
- Decisions must be made quickly based on available information.