Murray Lew Weidenbaum (February 10, 1927-March 20, 2014) was one of America's treasures. He dedicated himself to articulating and applying sound economic principles in both scholarly and governmental arenas and he did so with unmatched expertise, clarity, and grace.
A highly influential economist and adviser, Murray Weidenbaum founded the Center for the Study of American Business (CSAB) in 1975, along with former Chancellor of Washington University, William Danforth. Professor Weidenbaum served as the first chairman of the Council of Economic Advisers under President Ronald Reagan and served under or advised five U.S. presidents. In his CSAB research and publications, he leaves a legacy of his work on regulatory, defense, tax, trade, and budget policy. More about Murray Weidenbaum.
The Murray Weidenbaum publications in this collection were published by CSAB (now the Weidenbaum Center) at Washington University in St. Louis. His unpublished papers are available through the University Archives.
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Economics and the National Security
Murray L. Weidenbaum
May 1988
Contemporary Issues Series 28
Murray Weidenbaum discusses the relationship between defense spending and the national economy.
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An Economic Approach to Hazardous Wastes
Murray L. Weidenbaum
March 1987
Occasional Paper 61
The author proposes that economic incentives may encourage the public to accept proposals for improving the environment and for locations for hazardous waste sites.
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Takeovers and Stockholders: Winners and Losers
Murray L. Weidenbaum and Stephen Vogt
December 1987
Formal Publication 83
Corporate acquisitions normally cause negative returns for the shareholders of the acquiring firm. Targeted firm shareholders usually are the winners. The acquiring firms need to consider what is in the best interests for their shareholders when considering acquiring another firm.
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Takeovers and Stockholders: Winners and Losers
Murray L. Weidenbaum and Stephen Vogt
April 1987
Working Paper 107
When a takeover or merger is being considered, boards of directors are responsible for making decisions that best benefit their shareholders.
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The Benefits of Deregulation
Murray L. Weidenbaum
December 1987
Contemporary Issues Series 25
Murray Weidenbaum cites examples of how deregulation has helped the economy.
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The Economic Plateau
Murray L. Weidenbaum
April 1987
Occasional Paper 63
Overall, the American economy in the late 1980s looks upbeat. But American business and labor still need to take the necessary actions for a stronger economy in the 1990s.
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Today's Challenges to Economic Freedom
Murray L. Weidenbaum
February 1987
Contemporary Issues Series 23
Murray Weidenbaum shows the benefits of having a free enterprise system.
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Do Tax Incentives for Investment Work?
Murray L. Weidenbaum
June 1986
Contemporary Issues Series 20
This paper attempts to rebut the negative "charges" against tax incentives and argues that tax incentives have provided a substantial benefit to the American economy and that the tax payments of many companies have been largely underestimated.
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Learning to Compete: Feedback Effects of the Non-linear Economy
Murray L. Weidenbaum, Richard Burr, and Richard Cook
April 1986
Formal Publication 73
There are three key forces that make a period of sustained prosperity likely during the 1990s. First, actions that reduce the cost of producing goods and services in the United States. Second, a new awareness of personal responsibility for the quality of American goods. Finally, a rapid growth in research and development investments.
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Public Policy Toward Corporate Takeovers
Murray L. Weidenbaum
November 1986
Occasional Paper 56
It should not be government's role to "do something" about hostile takeovers. Many studies show that more harm than good is done when government interferes. Boards of directors need to realize that they need to make choices that serve the desires of their shareholders.
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Responding to Corporate Takeovers: Raiders, Management, and Boards of Directors
Murray L. Weidenbaum
October 1986
Contemporary Issues Series 21
This article refutes the need for government to intervene in hostile takeovers, arguing instead that the blame lies with board management. Acknowledging that "hostile" takeovers represent just a small fraction of all mergers, it stresses that corporate boards ultimately have the final say in all decisions.
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Tax Reform: When and How
Murray L. Weidenbaum
January 1986
Occasional Paper 51
Congress and the President need to focus on ways to reduce the deficit before making basic changes in the tax system.
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A "Dutch Uncle" Talk on Foreign Trade
Murray L. Weidenbaum
October 1985
Contemporary Issues Series 16
This piece shows how trade protection causes more harm than good for the U.S. as well as other countries.
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A Program for Reducing the Federal Budget
Murray L. Weidenbaum
April 1985
Contemporary Issues Series 15
Murray Weidenbaum explains why it is important to reduce the federal budget and proposes ways to achieve this.
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Economic Prospects for 1986
Murray L. Weidenbaum
November 1985
Occasional Paper 46
The economic forecast for 1986 is expected to show a much more modest growth than that of 1984 and 1985, mostly due to increases in imports, causing a reduction in domestic production.
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Economic Reality and the Fiscal 1986 Budget
Murray L. Weidenbaum
February 1985
Occasional Paper 39
Comprehensive budget cuts are necessary to reduce the budget deficit. Five proposals are shown for this to be accomplished.
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Imports and Unemployment: Dispelling the Myths
Murray L. Weidenbaum
October 1985
Occasional Paper 45
This paper looks at the myths concerning how imports reduce employment and clarifies many of the misconceptions. Recommendations are made on how trade policy can help American business be more competitive.
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Strengthening the Corporate Board: A Constructive Reponses to Hostile Takeovers
Murray L. Weidenbaum
September 1985
Formal Publication 70
This report examines the role of boards of directors and the pressures felt in the boardroom, especially when dealing with an unsolicited takeover. It also examines the different view of what a board can and should do. Recommendations are included for enhancing the board's ability to respond to external challenges.
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The Case Against Tax Reform in 1985
Murray L. Weidenbaum
March 1985
Occasional Paper 40
The Treasury Department's tax reform proposals in 1985 should be opposed because they would 1) reduce incentives for new investment; 2) reduce venture capital for high-tech and other enterprises; 3) raise the tax burden on small businesses; 4) would create uncertainty for investors regarding future tax rules; 5) reduce economic growth; and 6) weaken the financial position of states and of private non-profit institutions.
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The Case for Making Economic Forecasts: St. Offset and Annual Projections
Murray L. Weidenbaum
December 1985
Occasional Paper 50
Murray Weidenbaum states that the public should not expect pinpoint accuracy in economic forecasting. But prevailing forecasts can be helpful in indicating the general direction and trends for the year ahead.
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The Role of the Council of Economic Advisers: Theory and Reality
Murray L. Weidenbaum
November 1985
Occasional Paper 48
The function of the Council of Economic Advisers is to advise the President on economic policy with as much impartiality as possible. The CEA chairman is expected to help the public understand and in turn support the President's economic program.
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The United States in the World Economy: Problem or Solution?
Murray L. Weidenbaum
February 1985
Contemporary Issues Series 14
Murray Weidenbaum discusses the role of the United States in the international economy.
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An Economist's Look at the 1984 Elections--and Beyond
Murray L. Weidenbaum
September 1984
Occasional Paper 35
Depending on the winner of the 1984 presidential election, the author shows what the policies of a Reagan Administration or Mondale Administration would be regarding deficits, tax reform, regulation, antitrust laws, and protectionism.
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Four More Years: The Post-Election Business Outlook
Murray L. Weidenbaum
November 1984
Occasional Paper 37
Will the election results of 1984 make a difference to the American economy? The author gives his views on what the Reagan Administration will try to accomplish during its second term.
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Policing the Global Economy: The Threat to Private Enterprise
Murray L. Weidenbaum and Mary A. Fejfar
April 1984
Formal Publication 61
International organizations are becoming increasingly involved in the regulation of private enterprise. Advocates of this type of regulation seem to have overlooked the shortcomings of existing regulation of business. Ultimately, it is the consumer who bears the burden that government imposes on business.