Word: feldstein
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Last week, however, President Reagan persuaded an economist with both stature and credibility to come on board as Weidenbaum's successor. His choice: Martin Feldstein, 42, professor of economics at Harvard University and president of the prestigious National Bureau of Economic Research in Cambridge, Mass...
...Feldstein, a member of TIME'S Board of Economists, is a conservative who shares the President's conviction that excessive government spending and regulation, along with burdensome taxation, have discouraged capital formation and sapped the productive energy of U.S. business. More important, Feldstein, who earned his doctorate at Oxford University, is a respected scholar known for backing his views not with rhetoric alone, but with careful research and painstaking statistical studies as well. In 1977 he won the John Bates Clark Medal, awarded every two years to the most distinguished American economist aged 40 or under...
...three have served previously on the CEA, Greenspan as its chairman Feldstein has not served on the council...
...Feldstein, one of the Economic Department's prominent macroeconomists is considered an influential advocate of decreased federal spending...
...Despite Feldstein being mentioned publicly as a possible replacement for Weidenbaum, other economists who work with him at the College and the National Bureau said yesterday that they have heard nothing about an invitation from the White House...