Former Chair, Council of Economic Advisors to the President; Former Distinguished University Professor, Weidenbaum Center, Washington University
MPA, Class of 1954
Murray Weidenbaum (1927-2014), Princeton MPA 1954 and PhD (Economics) 1958.
Weidenbaum has been an economist in three worlds. He worked in government as a fiscal economist in the Bureau of the Budget (now OMB), as Assistant Secretary of the Treasury for Economic Policy, and as chair of the Council of Economic Advisers. He also served as chair of the congressionally-appointed Commission to Review the Trade Deficit.
While at the Treasury, Weidenbaum took the lead in developing and building support for an innovative program of sharing federal revenues with state and local governments. In the White House, he served on the three-member committee that developed President Reagan’s budget cuts and also was an active participant in generating the content of and support for Reaganomics.
Weidenbaum also was corporate economist for the Boeing Company during a time of transition from an old-line airframe manufacturer to a major producer of high-tech aerospace systems.
In 1964, Weidenbaum joined the faculty of Washington University in St. Louis, where he is still teaching as Mallinckrodt Distinguished University Professor. His early research focused on the changing nature of the defense industry, which developed into widely-cited studies on the impacts and cost of government regulation of business.
He has written ten books, including The Modern Public Sector, Economics of Peacetime Defense, The Future of Business Regulation, The Bamboo Network, Business and Government in the Global Marketplace, and The Competition of Ideas.
He has been elected as a Fellow of several scholarly and professional organizations, notably the American Academy of Arts and Sciences, the International Academy of Management, and the National Association for Business Economics.