How Many Habitat Houses Atone For 15% Inflation?

No Amount of Nobel-Worthy Charity Can Erase Jimmy Carter's Economic Mismanagement as President

Jimmy Carter, the first president to be born in a hospital and, until the next one, the last to pass away, is widely celebrated for his work on environmental protection, Arab-Israeli peace negotiations, and human rights advocacy. Of course, one might note that the world remains in dire straits when it comes to environmental protection, Arab-Israeli peace, and human rights. Still, consider how much worse things might have been without Carter’s efforts. I’ll concede: perhaps a little worse.

During the last few decades Carter generally floated about as a sort of cardigan-wearing angel of decency. It's all lovely work, particularly if you enjoy watching nonagenarians swing hammers, and don’t mind the occasional anti-Israel calumny. But there's an awkward reality lurking behind the feel-good stories: No amount of well-intentioned globe-trotting can pay back the average American's decimated savings account in the period between 1977 and 1980 . For all of Carter’s other praiseworthy post-presidential deeds, or laudable personal qualities, Americans would be much better off if Carter had also managed to tame inflation—or at least approached it with the semblance of an effective plan.

There is substantial evidence that while presidents have limited power to drive an economy to great heights, they hold considerable ability to derail it. When Carter took office, the economy was mediocre; by the time he left, it had deteriorated even further, a decline exacerbated by his misplaced priorities and ineffective leadership.

Charts Don’t Lie, Or Am I Thinking of Hips?