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 His unpublished papers are available through the University Archives.
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Strategies for Business Survival in a World of Government Intervention
Murray L. Weidenbaum
September 1977
Formal Publication 15
Murray Weidenbaum points out that the future of the economic system depends on government policies and their effects on business.
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The 1978 Economy: Outlook and Policy
Murray L. Weidenbaum
November 1977
Occasional Paper 9
This economic forecast examines trends within the major sectors of the economy to make predictions about how the American economy will fare in 1978. The overall outlook is relatively tame. The real economic growth rate will average about 4.5% in 1978 with inflation a little under 6% and a moderate decline in unemployment. All in all, 1978 is predicted to be a stable period of modest growth and prosperity.
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The Case for Tax Loopholes
Murray L. Weidenbaum
March 1977
Occasional Paper 4
Contrary to popular belief, tax expenditures or "loopholes" can in fact be useful. Given that the prompt elimination of large government deficit financing and pervasive government regulation is unlikely, tax expenditures may serve as a more sensible, second-best alternative. Indeed, tax expenditures (or incentives) may serve a variety of public purposes, ranging from promoting business investment to encouraging private, voluntary organizations. Typical tax expenditures tend to benefit the middle and lower income groups and should be considered an important alternative to achieve important government objectives.
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The Costs of Government Regulation
Murray L. Weidenbaum
February 1977
Formal Publication 12
Overregulation of business causes extra costs to the consumer. For the public good, government needs to find sensible and moderate means of regulation in order for business to fulfill its basic economic function.
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The Rising Cost of Government Regulation
Murray L. Weidenbaum and Robert DeFina
January 1977
Occasional Paper 2
In fiscal year 1976, the direct cost of federal government regulation of business hit an all time high. By 1978, the annual total federal regulatory cost will be approximately $3.8 billion, an 85% rise over the 1974 level. The most expensive sectors of federal regulatory activity are not focused on an individual industry, but are assigned to a broad category of social activities like the environment, energy, and consumer health and safety.
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A New Approach to Business-Government Planning
Murray L. Weidenbaum
May 1976
Formal Publication 10
This piece advocates the government using sensible ways of regulating business.
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Government as Promoter and Subsidizer of Advertising
Murray L. Weidenbaum
August 1976
Working Paper 15
The author points out that government subsidies in advertising can also mean more government control on those organizations that accept the subsidies.
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Saving, Investment and Capital Shortages
Murray L. Weidenbaum
February 1976
Formal Publication 8
The importance of saving and investment to the American economy are discussed.
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The Contrast Between Government Planning and Business Planning: Market Orientation Versus Centralized Control
Murray L. Weidenbaum
February 1976
Working Paper 9
Government planning is a centralized process in which economic decisions are made in the form of governmental edicts; business planning is a decentralized process where the individual consumer makes choices. The author states that adopting a form of centralized planning could result in society moving away from market freedoms and toward greater governmental controls over individual behavior.
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The Potential for Reducing Inflationary Pressures by Reforming Government Regulation
Murray L. Weidenbaum
April 1976
Working Paper 12
This paper suggests that if government offers proper incentives instead of increasing regulation, business and individuals would be more liable to alter their economic behavior in a way that is more beneficial to society as a whole.
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A Proper Concern for the Future: The Debate Over Saving, Investment, and Capital Shortages
Murray L. Weidenbaum
October 1975
Working Paper 6
The author recommends that government policy should encourage saving and investment, which would increase productivity and improve the standard of living for society.
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Federal Finances and Inflation
Murray L. Weidenbaum
July 1975
Formal Publication 4
Murray Weidenbaum suggests steps that the government can do in order to slow down inflation.
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Financing The Electric Utility Industry
Murray L. Weidenbaum
April 1975
Formal Publication 1
With rising costs in the electric utility industry in the 1970s, this study explores what would be the best ways for solving the financial problems of the industry.
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The Case for Economizing on Government Controls
Murray L. Weidenbaum
September 1975
Formal Publication 5
This paper points out the waste and hidden costs created by many government regulations.
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The Distribution of Tax Incentives
Murray L. Weidenbaum
March 1975
Working Paper 1
This paper gives a detailed explanation of the distribution of federal tax expenditures.
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The New Wave of Federal Government Regulation of Business
Murray L. Weidenbaum
April 1975
Working Paper 2
This paper discusses the need for society to examine excessive government regulation and find ways to reduce cost and waste.