The advice of the economic advisers (amtl. Council OF Economic Advisors) is a consultative organ of the president of the United States. It is part of the Executive Office and advises different offices in the white house to politico-economic questions. The advice members are appointed by the president with agreement of the senate.

Up-to-date

The present advisors are Katherine Baicker of the UCLA and Matthew Slaughter of the Dartmouth college. On 31 January 2006 president George W. Bush Edward P appointed. Lazear the advice, after Ben Bernanke was promoted to chairman of the Federal reserve. As soon as the senate agrees expected that the president appoints Lazear the chairman of the advice.

Previous chairmen of the committee were:

• Ben S. Bernanke 2005-2006
• N. Gregory Mankiw 2003-2005
• R. Glenn Hubbard 2001-2003
• Martin Neil Bally 1999-2001
• Janet Yellen 1997-1999

To the most influential members of the advice belonged:

• Joseph E. Stiglitz 1993-1997 (presidency 1995-1997)
• Laura D'Andrea Tyson 1993-1995 (presidency)
• Paul Krugman 1982-1983
• Alan Greenspan 1974-1977 (presidency)
• Otto cornerstone 1964-1966
• James Tobin 1961-1962
• Walter Heller 1961-1964 (presidency)
• Arthur F. Burns 1953-1956 (presidency)
• Leon Keyserling 1950-1953 (presidency)
• Edwin Nourse 1946-1950 (presidency)

The advice publish each year the economic report of the president. For the execution of the tasks of the advice this maintains about twenty economists in full operation and four constant restaurant statisticians.

History

The advice was created by the Employment act 1946, in order to supply the president with objective restaurant analyses and to advise it to politico-economic initiatives in a multiplicity of both inland and on the international level meaning ranges. In its first seven years the advice developed five important technical progress: 1) the replacement one "cyclic model "of the economy with one "development model ", 2) setting quantitative goals in the economic policy, 3) use of the theories to the fiscal dragee and the full employment household, 4) the realization of a necessary flexibility in the tax policy and 5) the replacement of the concept of struktuellen unemployment with that the insufficient demand walter S. Salant Some Intellectual Contributions OF the Truman Council OF Economic Advisers ton Policy making. History OF Political Economy, 1973 5 (1), P. 36-49.

In the year 1949 a controversy between the chairman Edwin Nourse and the councillor Leon Keyserling broke out. Nourse believed that the government between "weapons or butter "(English "bread or butter") had to decide. Keyserling argued however that a strong economic growth can bear increased preparation us rushing gifts without degradation of the standards of living. Keyserling was supported by two influential advisors Trumans, Dean Acheson and Clark Clifford. As reaction Nourse withdrew as a chairman, warned however the government before the dangers of high state deficits and wasteful defence expenditure. Keyserling moved up Deal politics and the resolution 68 of the national security council, which explained in April 1950 to the presidency and affected of this position Trumans fair that the urgently needed enlargement of the military would not entail influence on the standards of living and also not the transformation of the free character of the economy ("transformation OF the free characters OF our economy"). Lester H. Brune. Guns and butter: the Pre korean was disputes over budgets Allocations: Nourse's Conservative Keynesianism of lot Favor Against Keyserling's Economic expansion plan. American journal OF Economics and Sociology, 1989, 48 (3), P. 357-371. Issn: 0002-9246

Sources

See also

• Advice of the restaurant ways

Related links

• Web page of the advice the economicadvised (English)

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