Word: feldstein
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...Feldstein sees his job as "the economic adviser to the President, the economic voice of the Cabinet, the person who also brings a technical economic viewpoint to Executive Branch discussions and, occasionally, the representative of the consumer, or the general good, or the unrepresented constituency-everybody." The worst way to do his task, he argues, is to tell people what they already believe. Says he: "There's no value added in that...
...President's chief economic adviser came to Washing ton from a world that praised and rewarded him for his brilliance. The son of a New York City attorney, Feldstein, 44, received a bachelor's from Harvard and graduate degrees from Oxford, all in economics, and at 29 became one of the youngest full professors in Harvard's history. In 1977 he won the John Bates Clark medal from the American Economic Association, which is given every two years to the most distinguished economist age 40 or under. That same year he was named president of the National...
...When Feldstein left aca deme for Washington in the summer of 1982, he entered a foreign world. It was one that did not understand him and one that he sometimes does not seem to understand...
...Since Feldstein announced from the beginning that he was planning to return to Harvard for the 1984 fall semester, his critics within the Administration have been charging that he is more interested in winning applause from the denizens of the Harvard faculty lounge than in helping the President. Others are even more cutting. Says a top Reagan aide: "I used to think Feldstein was just interested in getting his consulting fees up, but now I think it's worse than that. I think he's trying to maximize the number of corporate boards he can get on." Some...
...Feldstein's refusal to play by Washington's usual rules has repeatedly landed him in trouble. He got off to a shaky start during his confirmation hearings with a gratuitous reference to "supplyside extremists," though the supply-side theory is a favorite of the Administration's. Feldstein has never figured out how to win the confidence of the President or top White House aides. The reason, says a key Administration policymaker: "Marty's not interested in figuring out what the President wants to do and then getting on that side of the issue...