HACKER Q&A
📣 Eoan

What is the role of economic advisors to a national leader?


Edit: obviously, I don't know how to get this to show up under 'Ask', or whether that is the most appropriate place for it.

I'd post this as a poll if I could, as that is essentially what I am getting at. I'm hoping for enough responses for a statistically valid sample of the responding population. A previous version of this on another site got one poll response.

I wouldn't be surprised if there are zero responses to the question no matter what I ask, but I'll try to ask a fair question that most accurately reflects the situation, without going into too much detail:

Suppose there was a way for a country to create a lot of jobs without additional government spending. Due to less need for welfare spending or things like the Works Progress Administration that created jobs in the US during the Great Depression, government spending could actually decrease.

However, if one country used the system, other countries would know of it as well, and if they used it, profits of companies selling luxury goods in the first country would decrease. The 'cultural influence' of the first country could also decrease — if the first country was the US, perhaps fewer people would be interested in learning English.

The question is, what role do economic advisors have in this situation? In the US, this is the Council of Economic Advisors: https://www.whitehouse.gov/cea/

I will not quote it due to length. Other countries may have similar things. What best describes what advisors should do?

1) They SHOULD NOT do anything as a result of knowing about a system that does this.

2) They MAY or CAN share this system with the leader of their country.

3) They SHOULD share this system with the leader of their country.

4) They MUST share this system with the leader of their country.

I'd also ask, if economic advisors should not share this system, is there anyone who should? But I doubt I will get many responses even to the first question.


  👤 notahacker Accepted Answer ✓
Without knowing more I'd say the situation is contrived and artificial, and there's almost never a situation in which a nation improving its economic conditions makes its medium run economic output worse because it had never occurred to anyone else to do this and the other countries all copy it better.

There are real world tradeoffs like boosting the value of a country's currency making its exports a little more expensive to foreign purchasers of its manufacturing output, but your question is more akin to 'if I knew of a perpetual motion machine, should I hide it from the boss of my motor company'. The perpetual motion machine doesn't exist, and if it did, the benefits outweigh any potential losses to your company's existing revenue streams.


👤 Eoan
I created a poll, in case people are willing to use 3rd-party poll sites: https://www.strawpoll.me/19409077

👤 JanAcai
For me it's 3), although I'm no public policy expert. Why wouldn't they discuss a potentially great idea with the chief decision maker?