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Does Experience Matter?

I found this interesting but of dubious validity as Kedrosky cautions.
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Does the Obama Administration have less business experience? According to some semi-whimsical (I think) research in a new J.P. Morgan report that would seem to be the case. The author looked at private sector experience of 432 Cabinet secretaries whose activities touch most on the private sector across all presidential administrations since 1900. Here is the result:

private-experience.pngThere are obviously many, many issues here, not least of which is that the author isn’t entirely clear on what the y-axis percentage means, how different kinds of experience are weighted, etc. Nevertheless, it’s still thought-provoking.

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