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Martin Stuart Feldstein (born November 25, 1939) is an American economist. He is currently the George F. Baker Professor of Economics at Harvard University, and the president and CEO of the National Bureau of Economic Research (NBER). From 1982 to 1984, Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan (where his deficit hawk views clashed with Reagan administration economic policies).
Feldstein was born in New York City. He completed his undergraduate education at Harvard (B.A., Summa Cum Laude, 1961) and then attended Oxford University (B.Litt., 1963; D.Phil., 1967). 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 and is known primarily for his work on macroeconomics and econometrics. He has pioneered much of the research on the working mechanism and sustainability of public pension systems. Feldstein is an avid advocate of Social Security reform and has been a main driving force behind President Bush's initiative of partial privatization of the Social Security. Aside from his contributions to the field of public sector economics, he has also authored other important macroeconomics papers. One of his more well-known papers in this field was his influential investigation with Charles Horioka have investment behavior in countries. He and Horioka found that in the long run, capital tends to stay in its home country--that is to say, a nation's savings is used to fund its investment opportunities.
A well-known figure on the Harvard campus, Feldstein taught the introductory economics class "Social Analysis 10: Principles of Economics" (though it is referred to as "Ec10" by Harvard students) for twenty years. His course was routinely the largest class at Harvard, despite accusations of being ideologically slanted. He currently teaches courses in American economic policy and public sector economics at Harvard College.
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1939 births | Living people | Economists | Harvard University | Members of the Trilateral Commission | Fellows of the Econometric Society | Fellows of the Econometric Society elected in 1970
"Martin Feldstein"