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The American Enterprise Institute for Public Policy Research is a conservative think tank founded in 1943 whose stated mission is to support the "foundations of freedom - limited government, private enterprise, vital cultural and political institutions, and a strong foreign policy and national defense." The Institute is an independent, nonprofit organization supported primarily by grants and contributions from foundations, corporations, and individuals. Like most think tanks that maintain non-profit status under the federal tax code, AEI is officially nonpartisan and takes no institutional positions on pending legislation or other policy questions. However, it has emerged as one of the leading architects of the Bush administration's public policy. More than two dozen AEI alumni have served either in a Bush administration policy post or on one of the government's many panels and commissions. AEI, along with the more conservative Heritage Foundation, is often cited as a center-right counterpart to the center-left Brookings Institution. In 1998, AEI and Brookings established the AEI-Brookings Joint Center for Regulatory Studies.
"Irrational Exuberance" AEI garnered significant global attention on December 5, 1996, when Federal Reserve chairman Alan Greenspan addressed the institute and remarked, just a few years before the 2000 stock market correction, that the American stock market may have ascended unduly, attributable to what Greenspan called the "irrational exuberance" of investors. Greenspan's comments to AEI proved to be among his most notable, leading to significant debate over whether American stock evaluations were, in fact, overvalued and even to a book named for the comment, "Irrational Exuberance". President and trustees Scholars and fellows Funders AEI has received more than $30 million in funding from sources including the following: Governance The AEI is governed by a board of trustees. Current members of the board are: Gordon Binder, Harian Crow, Chris DeMuth, Morton Fleischer, Chris Galvin, Raymond Gilmartin, Harvey Golub, Robert Greenhill, Roger Hertog, Martin Koffel, John Luke, Ben Lytle, Alex Mandl, Robert Pritzker, Joe Ricketts, Kevin Rollins, John W. Rowe, Edward Rust, William Stavropoulos, Wilson Taylor, Marilyn Ware, and James Q. Wilson. Emeritus trustees of the organization are: Willard Butcher, Richard Madden, Robert Malott, Paul McCracken, Paul Oreffice, and Henry Wendt. | ||||||||
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