Allan H. Meltzer

Distinguished Visiting Fellow

Allan Meltzer is a distinguished visiting fellow at the Hoover Institution and the Allan H. Meltzer University Professor of Political Economy at the Tepper School of Business at Carnegie Mellon University. He has been a visiting professor at Harvard, the University of Chicago, the University of Rochester, the Yugoslav Institute for Economic Research, the Austrian Institute for Advanced Study, the Getulio Vargas Foundation in Rio de Janeiro, and the City University, London. He has served as a consultant for several congressional committees, the President's Council of Economic Advisers, the US Treasury Department, the Board of Governors of the Federal Reserve System, the World Bank, foreign governments, and central banks. He has been a member of the President's Economic Policy Advisory Board. In 1988–89, he was an acting member of the President's Council of Economic Advisers. From 1986 to 2002, he was an honorary adviser to the Institute for Monetary and Economic Studies of the Bank of Japan.

In 1999–2000, he served as chairman of the International Financial Institution Advisory Commission, known as the Meltzer Commission, which proposed major reforms of the International Monetary Fund and the development banks.

Professor Meltzer's writings have appeared in numerous journals; his most recent publication is Why Capitalism? (Oxford University Press, 2012). He has authored several other books, including A History of the Federal Reserve (University of Chicago Press, 2 volumes, 2003 and 2009) and numerous papers on economic theory and policy. His career includes experience as a self-employed businessman, management adviser, and consultant to banks and financial institutions.

In 1983, Professor Meltzer received a medal for distinguished professional achievement from the University of California, Los Angeles. He was named the distinguished fellow for 2011 by the American Council for Capital Formation and is a distinguished fellow of the American Economic Association. In 2003 he received the Irving Kristol Award from the American Enterprise Institute and the Adam Smith Award from the National Association for Business Economics. In 2009, he received the Distinguished Teacher Award from the International Mensa Foundation. In 2011 Professor Meltzer received the Bradley Award, the Harry Truman Medal for Public Policy, and the Truman Medal for Economic Policy.

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Recent Commentary

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The GOP’s Tea Party Problem

by Allan H. Meltzervia Defining Ideas
Wednesday, November 4, 2015

The Freedom Caucus and Republican establishment don’t have to be at war.  

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The Follies Of Income Redistribution

by Allan H. Meltzervia Defining Ideas
Friday, July 17, 2015

Progressives think that taxing the rich will help the poor, but only a pro-growth economic platform can help lift them out of poverty. 

Analysis and Commentary

The QE Trap

by Allan H. Meltzervia e21, Economic Policies for the 21st Century
Tuesday, June 16, 2015

Quantitative easing (QE) is the latest central bank fad. After years of QE by the US Federal Reserve, the Bank of Japan, the Bank of China and the European Central Bank have adopted their versions of the policy. The immediate effect was a depreciation of each exchange rate and an increase in some measures of monetary growth. I will discuss the US experience and ECB problems here.

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The Magna Carta At 800

by Allan H. Meltzer, Kenneth E. Scottvia Defining Ideas
Monday, June 15, 2015

The revolutionary document forms the basis of American constitutional government and should be celebrated by all freedom loving people. 

Taylor Jones cartoon

Congress vs. Cronyism

by Allan H. Meltzervia Hoover Digest
Wednesday, January 28, 2015

Unelected agencies engage entirely too often in sheer influence peddling. Congress can fix that.

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Three Strikes Against the Fed

by Allan H. Meltzervia Defining Ideas
Thursday, January 15, 2015

If you want to know why the economic recovery has been so sluggish, look no further than the Obama administration and Federal Reserve policies.

The United States of Envy

by Allan H. Meltzervia Hoover Digest
Tuesday, October 21, 2014

What closes income gaps? Education and innovation—not confiscatory taxes such as those Thomas Piketty proposes.

Analysis and Commentary

Letter to the Editor: Avoid Ethnocentrism on Hong Kong

by Allan H. Meltzervia Wall Street Journal
Monday, October 13, 2014

Bret Stephens’s “Hong Kong Pops the China Bubble” (Global View, Oct. 7) celebrating Hong Kong’s democracy movement badly misses the point. The question to ask about China is whether its current mix of authoritarianism and freedom is the best practicable way for it to progress toward the ideal of the good, civilized, rational, modern, free and democratic society.

Analysis and Commentary

Cronyism vs. the Constitution

by Allan H. Meltzervia Wall Street Journal
Monday, August 25, 2014

Most of us learned in grade school that the Constitution parcels legislative, executive and judicial power into separate branches of the government. This separation of powers—the system of checks and balances—is to prevent tyranny and ensure that all citizens enjoy equal protection under the law.