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Michael Boskin
Secretary Pompeo Participates in a Roundtable Discussion with Hoover Institute Fellows (49380866856) (cropped).jpg
Boskin in 2020
15th Chair of the Council of Economic Advisers
In office
February 2, 1989 – January 20, 1993
President George H. W. Bush
Preceded by Beryl Sprinkel
Succeeded by Laura Tyson
Personal details
Born (1945-09-23) September 23, 1945 (age 79)
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.

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

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