Bp 6 Economists Demoted in Washington

Donald Trump has not yet named, and will not name, his economic advisor.  This is incredibly worrying, because while economists and businessmen and women agree on many things they do not always agree.  Economists and business people have different priorities from one another when it comes to the correct direction of government involvement and regulations, and it is the economic advisor’s role to give a different prospective from the business people.  The economic advisor does a lot more than many would believe.  The advisor not only gives the trends the economy could face from business based decisions, but they give economic trends on situations such as a downsize in the military.  A downsize in military numbers could cause early retirement buyouts, loss of jobs for military careers, the economies of towns surrounding army bases to falter, it is important for the economic advisor to supply the president with this information to ensure he has all of the data.  Economists have long been criticized for their opinions about the state of the economy and what could happen from proposed changed.  One such situation occurred frequently when Ronald Reagan was in office and economist Martin Feldstein opposed his tax cuts without reducing his spending as it would increase the national debt.  Feldstein was ridiculed in the media for his statements and was largely ignored.

 

This is largely a utilitarian and integrity issue when it comes to ethics.  The economic advisor is very important to the population of the United States as their job is to ensure the best version of the economy for every single individual.  Mill’s utilitarian ethics focuses almost solely on this idea of bringing the most pleasure to the most amount of people.  With this in mind the economic advisor must take all of the population into account when giving the president the information he requires to make these decisions.  If the economic advisor doesn’t account for all situations or affects that a decision or action could cause it may result in the failure to act in the best interests of the greatest amount of people.  The economic advisor must also act with complete integrity.  If this person does not act with integrity, it could end with a decision being made that hurts people.  This could be caused by a lack of disclosure, or because they do not make certain that the ramifications of an action are clearly placed forward.  The president must also act with integrity in this situation.  If the president fails to act with integrity, then there will be little reason to trust him or his future endeavors.  The ethical actions of these two people, and the entire board of advisors, are very important to the people that they govern.

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