Agreed. You really can't tame inflation unless you cut the money supply. That has only been done once to my knowledge (in the states).
To his credit however, Clinton did put political expediency on hold to drive down the deficit. That being said, I distrust politicians as a rule
In theory yes; practice seems to suggest it doesn't really matter. George H.W. Bush graduated from Yale with a BA in economics. His economic policy seems to suggest that he didn't really understand the nature of the interest rate. Clinton, in contrast studied economics only briefly at Oxford. However, his economic policy was among the more sound in recent history.
I guess the point I'm trying to make is that even if someone passes a 101 course, there is a lot of variability in their understanding of the material. The effect is particularly pronounced in economics because subtle aspects of a policy can have drastic effects. Moreover, evaluating a solution is not easy; Friedman would always comment on the distinction between intent and efficacy.
I agree that economic knowledge, to be used in career planning specifically, would be among the more useful knowledge that should be taught. Making sure people get that knowledge is the hard part.
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