Herbert Stein

Herbert Stein (August 27, 1916 – September 8, 1999) was a senior fellow at the American Enterprise Institute and was on the board of contributors of The Wall Street Journal. He was chairman of the Council of Economic Advisers under President Nixon and President Ford. In the 1970s, he was a professor of economics at the University of Virginia. Stein was born in Detroit, Michigan, but his family moved to New York during the Great Depression. He enr... more

Herbert Stein (August 27, 1916 – September 8, 1999) was a senior fellow at the American Enterprise Institute and was on the board of contributors of The Wall Street Journal. He was chairman of the Council of Economic Advisers under President Nixon and President Ford. In the 1970s, he was a professor of economics at the University of Virginia. Stein was born in Detroit, Michigan, but his family moved to New York during the Great Depression. He enrolled in Williams College just before he turned sixteen. After graduating Phi Beta Kappa, he went to Washington, D.C. to work as an economist in various agencies. He received his Ph.D. in economics from the University of Chicago in 1958. He was well-known as a pragmatic conservative and was jokingly referred to as "a liberal's conservative and a conservative's liberal." He was the author of The Fiscal Revolution in America. In his article, "Adam Smith did not wear an Adam Smith necktie," Stein wrote that the people who wear the Adam Smith tie... less