Martin Feldstein

Senior Fellow
Biography: 

Martin Feldstein is a senior fellow at the Hoover Institution, the George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research. He served as President and CEO of the NBER from 1977-82 and 1984-2008. He continues as a Research Associate of the NBER. The NBER is a private, nonprofit research organization that has specialized for nearly 100 years in producing nonpartisan studies of the American economy.

From 1982 through 1984, Martin Feldstein was Chairman of the Council of Economic Advisers and President Reagan's chief economic adviser. He served as President of the American Economic Association in 2004. In 2006, President Bush appointed him to be a member of the President's Foreign Intelligence Advisory Board. In 2009, President Obama appointed him to be a member of the President's Economic Recovery Advisory Board.

Feldstein is a member of the American Philosophical Society, a Corresponding Fellow of the British Academy, a Fellow of the Econometric Society and a Fellow of the National Association of Business Economists. He is a Trustee of the Council on Foreign Relations and a member of the Trilateral Commission, the Group of 30, the American Academy of Arts and Sciences, and the Council of Academic Advisors of the American Enterprise Institute.

Feldstein has received honorary doctorates from several universities and is an Honorary Fellow of Nuffield College (Oxford), and Brasenose College (Oxford). In 1977, he received the John Bates Clark Medal of the American Economic Association, a prize awarded every two years to the economist under the age of 40 who is judged to have made the greatest contribution to economic science. He is the author of more than 300 research articles in economics. Feldstein has been a director of several public corporations. He is also an economic adviser to several businesses and government organizations in the United States and abroad. He is a regular contributor to the Wall Street Journal and other publications. Martin Feldstein is a graduate of Harvard College and Oxford University. He was born in New York City in 1939. His wife, Kathleen, is also an economist. The Feldsteins have two married daughters.

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Recent Commentary

In the News

New Study Estimates Dollar Values For Free Online And Digital Goods. Does GDP Need Redesign For 21st Century?

quoting Martin Feldsteinvia AEI
Friday, March 29, 2019

I’ve written a number of times on CD about the possible limitations of official GDP accounting methods (developed in the 1930s during the Machine Age) for measuring economic activity, output and well-being in the Digital Age when so many services are now free or nearly free (Wikipedia, Facebook, Craigslist, email, Internet, cameras, videos, music, GPS/maps, etc.).

In the News

Republicans Need To Be Adults And Talk About Entitlement Reform Again

quoting Martin Feldsteinvia The Daily Wire
Tuesday, March 26, 2019

Paul Ryan, for all his flaws as an immigration dove and record of taking tough votes such as the grotesquely cronyist TARP bailout, was nonetheless almost single-handedly responsible for making entitlement reform a part of Republican Party economic orthodoxy. Ryan's "Roadmap for America's Future," first introduced in 2008 and later more fully flushed out, detailed the Wisconsin congressman's policy vision for a future that included structural reforms — including means-testing, introduction of competitive market forces, and optionality for privatization measures — to America's bankrupting entitlement programs of Medicare, Medicaid, and Social Security.

In the News

What Federal Spending To Cut?

quoting Martin Feldsteinvia Cato Institute
Friday, March 22, 2019

Economist Martin Feldstein warns about excessive government debt in the Wall Street Journal: The most dangerous domestic problem facing America’s federal government is the rapid growth of its budget deficit and national debt.

Featured

The Debt Crisis Is Coming Soon

by Martin Feldsteinvia The Wall Street Journal
Wednesday, March 20, 2019

The most dangerous domestic problem facing America’s federal government is the rapid growth of its budget deficit and national debt. According to the Congressional Budget Office, the deficit this year will be $900 billion, more than 4% of gross domestic product. It will surpass $1 trillion in 2022. The federal debt is now 78% of GDP. By 2028, it is projected to be nearly 100% of GDP and still rising.

In the News

The Deficit That Matters

quoting Martin Feldsteinvia Investors Chronicle (UK)
Wednesday, March 20, 2019

The UK is borrowing more from overseas. Next Friday’s figures are likely to show that the current account deficit on the balance of payments increased at the end of last year, to over 5 per cent of gross domestic product.

 
In the News

Federal Wealth Tax Would Target Richest Americans

quoting Martin Feldsteinvia Toronto Sun
Thursday, March 14, 2019

The Democratic presidential candidates appear driven by tales of the rich exploiting the downtrodden and support higher taxes to redress injustice. Senators Elizabeth Warren and Bernie Sanders want a federal wealth tax and higher levies on estates.

In the News

Opinion: The Folly Of Elizabeth Warren’s Wealth Tax

quoting Martin Feldsteinvia Market Watch
Monday, March 11, 2019

Most fortunes are the earned by entrepreneurs cashing in on their great ideas, not the idle rich of Democrats’ fantasies.

In the News

Who's Really To Blame For America’s Trade Deficit?

quoting George P. Shultz, Martin Feldsteinvia Barron's
Friday, March 8, 2019

Americans buy more than they produce. According to the latest data from the Bureau of Economic Analysis, published on Wednesday, imports of goods and services from the rest of the world exceeded exports by $621 billion in 2018. The deficit in manufactured goods was worth more than $840 billion—a new all-time high.

Interviews

Behind The Scenes With Harvard’s Martin Feldstein

interview with Martin Feldsteinvia Bloomberg
Wednesday, February 27, 2019

Hoover Institution fellow Martin Feldstein discusses his work in Washington with President Reagan, the importance of introductory economics courses, and his time as an undergraduate at Harvard University.

Analysis and Commentary

Will The US Capitulate To China?

by Martin Feldsteinvia Project Syndicate
Monday, February 25, 2019

The most important problem that a bilateral deal between the United States and China needs to resolve is Chinese theft of US firms’ technology. Unless the Chinese agree to stop stealing technology, and the two sides devise a way to enforce that agreement, the US will not have achieved anything useful from Trump's tariffs.

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