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 His unpublished papers are available through the University Archives.
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Small Business Performance in the Regulated Economy
Murray L. Weidenbaum and Kenneth W. Chilton
February 1980
Working Paper 52
This paper studies the various effects of federal regulation on small business firms.
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The Future of Business: Shock or Stability?
Murray L. Weidenbaum
April 1980
Formal Publication 30
Murray Weidenbaum offers suggestions on ways to reduce government controls and the need for a better understanding of how government policies affect the private sector.
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The Uncertain Recovery in 1981: The Carter Legacy and the Reagan Opportunity
Murray L. Weidenbaum
November 1980
Occasional Paper 22
Murray Weidenbaum examines the economic prospects for 1981 and what issues the Reagan Administration will be facing in its first year.
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Cutting the Size of Big Government
Murray L. Weidenbaum
January 1979
Formal Publication 23
This piece shows that reforms are necessary in order to reduce big government and thus be able to reduce taxes.
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Government and the Citizen
Murray L. Weidenbaum
July 1979
Formal Publication 25
This paper examines some of the impacts of government expansion on the private sector.
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"Reconciling Monetary Policy and the Institutional Structure" in Alternative Policies to Combat Inflation
Murray L. Weidenbaum
January 1979
Working Paper 40
The author believes that a more competitive market economy would benefit both labor and product markets.
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The Future of Government Regulation: The Public Response
Murray L. Weidenbaum
November 1979
Formal Publication 27
Public interest groups, academics, and the media have an obligation to respond constructively to issues in government policy that affect the lives of people.
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All Hazards Are Not Equal
Murray L. Weidenbaum
July 1978
Formal Publication 20
Hidden costs caused by government regulation can reduce the introduction of new products and can hamper innovation.
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Another Approach to Regulatory Reform
Murray L. Weidenbaum
September 1978
Occasional Paper 16
In a statement given to the Senate Committee on the Judiciary, Murray Weidenbaum gives his reasons why regulatory reform is needed and offers suggestions for sensible changes.
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Government Regulation and Small Business, Testimony prepared for the U.S. House of Representatives Committee on Small Business
Murray L. Weidenbaum
March 1978
Occasional Paper 12
This testimony presents four major points regarding H.R. 7739 "Small Business Impact Statement Act of 1977" and H.R. 10632 "Small Business Regulatory Relief Act." First, there is concern that regulation hits smaller business disproportionately hard. Second, requiring a regulatory impact statement is a good one, as it helps government understand the effects of its actions. Third, the amount of paperwork required by specific impact statements is concerning. Finally, public policy would be better served by requiring a single comprehensive impact statement prior to the issuance of each new regulation.
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How to Control Inflation
Murray L. Weidenbaum
November 1978
Occasional Paper 17
Government contributes to rising inflation because of large budget deficits, increases in the money supply, and needlessly costly regulations. In order to reduce inflation, Americans need to understand the problem of big government, analyze methods of dealing with the problem, and finding the best way to proceed.
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Priorities in Tax Policy, Testimony before the U.S. Senate Committee on Finance
Murray L. Weidenbaum
August 1978
Occasional Paper 15
This paper discusses the merits of alternatives to the current tax policy: closing "loopholes," reducing taxes for those with low incomes, adjusting the personal income tax structure, and increasing the stimulus for capital formation.
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Reducing the Hidden Cost of Big Government, Testimony before the Joint Economic Committee of the U.S. Congress Priorities in Tax Policy, Testimony before the U.S. Senate Committee on Finance
Murray L. Weidenbaum
April 1978
Occasional Paper 14
The largest and most rapid increase in government power over the private sector is not in the areas of taxation or government spending. Rather, it is the expansion of government regulation that impacts the everyday consumer, motorist, homeowner, worker, investor, taxpayer, and nation as a whole in distinct ways. It concludes by suggesting several initial reforms.
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The Case for Tax Loopholes
Murray L. Weidenbaum
September 1978
Formal Publication 21
An examination of tax "loopholes" or expenditures shows that in some instances they can help in promoting business investment and economic growth. Middle- and lower-income groups also benefit from these loopholes.
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The Coming Slowdown in the U.S. Economy
Murray L. Weidenbaum
November 1978
Occasional Paper 18
In this speech given in 1978, Murray Weidenbaum points out what are positives and negatives in the American economy. Based on this information, he gives his forecast for what the economy should look like in the next year.
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The Debate Over Saving, Investment and Capital Shortages
Murray L. Weidenbaum
April 1978
Formal Publication 19
This piece discusses the importance of saving and investment.
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The Impacts of Government Regulation
Murray L. Weidenbaum
June 1978
Working Paper 32
This paper studies the various costs incurred in the process of government regulation.
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The Taxpayer and Government Regulation
Robert DeFina and Murray L. Weidenbaum
March 1978
Occasional Paper 13
Government regulation of business continues to be one of the fastest growing areas of the American economy. The bulk of the growing regulatory budget is devoted to newer areas of social regulation, such as job safety, energy and the environment, and consumer safety and health. Unlike the traditional regulating commissions, the agencies engaging in this type of regulation often have jurisdiction over virtually all companies, including many sectors of the economy which are generally not thought of as being regulated.
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A Fundamental Reform of Government Regulation
Murray L. Weidenbaum
May 1977
Occasional Paper 6
During the past few years, the American public has been alerted to the problems and shortcomings of government regulatory activities. The Regulatory Reform Act of 1977 provides a platform for modernizing and improving government activities that have profound repercussions for all of society. It should be supported and enacted accordingly.
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An Economic Analysis of the Federal Government's Credit Programs
Murray L. Weidenbaum
January 1977
Working Paper 18
Government credit programs create large costs to government as well as the consumer. Murray Weidenbaum offers suggestions on ways to reduce those costs.
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An Economist's Evaluation of President Carter's Freshman Year in Office
Murray L. Weidenbaum
December 1977
Occasional Paper 11
This paper attempts to grade the president's economic policies and performance through his first year. Specifically, it examines what President Carter's economic objectives are, what he has accomplished to date, what difference he has made to the nation's economy, and what he needs to do before leaving office in order to earn a passing grade.
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Business Policy and the Public Welfare
Murray L. Weidenbaum
January 1977
Occasional Paper 1
It is not a question of advocating for the elimination of all government intervention in the economy, as many government programs do generate important benefits to the public. This paper calls for a new way of thinking in public policymaking. This new paradigm must simultaneously help to achieve the nation's social goals while allowing business to pursue more efficient production of better goods and services.
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Corporate Planning Versus Government Planning
Murray L. Weidenbaum and Linda Rockwood
March 1977
Formal Publication 13
This paper discusses the differences between business planning and national planning and how to decide which works best for the overall economy.
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Government Regulation and the Cost of Housing
Murray L. Weidenbaum
December 1977
Occasional Paper 10
One of the important factors in the rising prices in the housing market is the array of government regulations facing land developers, homebuilders, and financial institutions. Not all government regulation is bad, but the costs are often simply passed along to the consumer, essentially as a "hidden tax." This paper examines the various effects of housing regulation and outlines the procedures for change.
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Government Regulation and the Slowdown in Innovation
Murray L. Weidenbaum
October 1977
Occasional Paper 7
The excessively rapid expansion of government regulation of business is slowing down the rate of innovation and scientific progress in the United States. The answer is not to eliminate all forms of government regulation, however. Rather, the sensible approach is to reform the existing array of regulation so as to achieve important social objectives with fewer of the adverse side effects.