NCPA - National Center for Policy Analysis

Bush Appointee is Strong Defender of Free Market Policies

March 5, 2003

N. Gregory Mankiw, President Bush's appointee replacing Glenn Hubbard as chairman of the Council of Economic Advisers, is a staunch free market-oriented economist, says Bruce Bartlett. Hubbard recently resigned from the CEA to return to his family in New York.

Mankiw's columns in Fortune Magazine from 1997 to 2001 show he is a consistent promoter of free market policies:

  • In a 1998 column he praised Milton Friedman as among the top 3 economists of the 20th century.
  • In a 1999 column and again in 2000, Mankiw criticized the estate tax as one that "restrains the economy, doesn't fall on the rich...and doesn't even raise much revenue."
  • In another 1999 column, Mankiw strongly praised school vouchers, saying, "An economy based on free and competitive markets serves consumers better than one based on central planning."
  • In one of his last columns, Mankiw endorsed the election of George W. Bush because, unlike Al Gore, he would cut taxes, reform Social Security and antitrust policy, and try to implement school choice.

Conservatives and free marketeers could hardly ask more from any economist, says Bartlett, let alone one trained at the Massachusetts Institute of Technology and a full professor at Harvard University.

Source: Bruce Bartlett, "Bush Appointee is Strong Defender of Free Market Policies," National Center for Policy Analysis, March 5, 2003.


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