Michael Boskin facts for kids
Quick facts for kids
Michael Boskin
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Boskin in 2020
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| 15th Chair of the Council of Economic Advisers | |
| In office February 2, 1989 – January 20, 1993 |
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| President | George H. W. Bush |
| Preceded by | Beryl Sprinkel |
| Succeeded by | Laura Tyson |
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| Born | September 23, 1945 New York City, New York, U.S. |
| Political party | Republican |
| Spouse | Chris Dornin (1981–present) |
| Education | University of California, Berkeley (BA, MA, PhD) |
Michael Jay Boskin (born September 23, 1945) is an important American economist. He teaches economics at Stanford University and is a senior fellow at the Hoover Institution. He also leads his own economic consulting company, Boskin & Co. From 1989 to 1993, he was the main economic advisor to President George H. W. Bush.
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Early Life and Schooling
Michael Boskin was born in New York City in 1945. He went to the University of California, Berkeley. There, he earned three degrees in economics: a bachelor's degree in 1967, a master's degree in 1968, and a Ph.D. (doctorate) in 1971. He achieved very high honors and is a member of Phi Beta Kappa, an honor society for smart students.
Michael Boskin's Career
Dr. Boskin started working at Stanford University in 1970. He also does research for the National Bureau of Economic Research, which studies economic issues.
Advising the President
From 1989 to 1993, Michael Boskin was the chairman of the Council of Economic Advisers for President George H. W. Bush. This council gives the President advice on how the country's economy is doing. During this time, he made a famous statement in 1990: "Potato chips, semiconductor chips, what is the difference? They are all chips. A hundred dollars' worth of one or a hundred dollars' worth of the other is still a hundred dollars." This quote showed his view that all parts of the economy, whether making simple snacks or advanced computer parts, contribute to the nation's wealth.
Measuring Inflation
Dr. Boskin also led a group called the Boskin Commission. This group looked at how the government measures inflation. Inflation is when prices for goods and services go up over time. The commission suggested new ways to measure inflation, which changed how the government calculates it. This was important because inflation affects things like how much your money can buy.
Other Important Roles
Besides his work at Stanford, Michael Boskin has served on the boards of several large companies. He has been a director for Exxon Mobil, a big energy company, since 1996. He also serves on the boards of Oracle Corporation, a technology company, Shinsei Bank in Japan, and Vodafone Group, a telecommunications company. He writes regularly for Project Syndicate, sharing his ideas on global economic topics. He also advises the United States Department of Commerce on how the nation's income and products are measured.
See also
In Spanish: Michael Boskin para niños
