Allan H. Meltzer

Distinguished Visiting Fellow
Biography: 

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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Lies Politicians Tell Us

by Allan H. Meltzervia Defining Ideas
Wednesday, July 27, 2016

Clinton, Trump, the Obama administration, and the media—all are guilty of obfuscation, deceit, and dishonesty.  

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The EU’s Path Forward

by Allan H. Meltzervia Defining Ideas
Thursday, July 7, 2016

It could foolishly punish Britain or it could use Brexit as an opportunity to reform

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Lessons From The European Welfare State

by Allan H. Meltzervia Defining Ideas
Wednesday, May 25, 2016

Sluggish growth will continue until governments adopt policies that reduce regulation and encourage private investment.

Federal Reserve
Analysis and Commentary

The Power And Independence Of The Federal Reserve

by Allan H. Meltzervia American Enterprise Institute
Wednesday, May 11, 2016

Happy to return to AEI where I wrote much of my History of the Fed. And pleased to discuss Prof. Conti-Brown’s book on Fed power and independence.

Analysis and Commentary

The Power And Independence Of The Federal Reserve

by Allan H. Meltzervia American Enterprise Institute
Wednesday, May 11, 2016

Happy to return to AEI where I wrote much of my History of the Fed. And pleased to discuss Prof. Conti-Brown’s book on Fed power and independence.

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Fail and Fail Again

by Allan H. Meltzervia Hoover Digest
Monday, April 18, 2016

Like a bad penny, socialism keeps coming back.

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Restoring Liberty To The States

by Allan H. Meltzervia Defining Ideas
Friday, April 8, 2016

Our Constitution delegates lawmaking power to Congress and local polities—so why are we ruled by administrative bureaucrats? 

Federal Reserve chair Janet Yellen.
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Fed Failures

by Allan H. Meltzervia Defining Ideas
Wednesday, March 9, 2016

Monetary policy can contribute to economic growth, but it hasn’t under the bank’s current leadership.

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Fed Up With The Fed

by Allan H. Meltzervia Defining Ideas
Wednesday, February 17, 2016

If Congress forces the bank to follow a rule rather than its own discretion, the economy will flourish. 

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Myths of Redistribution

by Allan H. Meltzervia Hoover Digest
Wednesday, January 27, 2016

Decrying the “income gap” may make for stirring political rhetoric, but we don’t need rhetoric. We need growth.

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