When a Nobel Laureate Speaks, We Ought to Listen

I wonder if the Royal Swedish Academy is regretting their pick. But, needless to say, it ranks much higher than the Peace Prize winner this year.

"WASHINGTON (AFP) - Edward Prescott, who picked up the Nobel Prize for Economics, said President George W. Bush (news - web sites)'s tax rate cuts were 'pretty small' and should have been bigger.

'What Bush has done has been not very big, it's pretty small,' Prescott told CNBC financial news television. 'Tax rates were not cut enough,' he said. Lower tax rates provided an incentive to work, Prescott said."

Link