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Foundation for Economic Education

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Foundation for Economic Education
Foundation for Economic Education.svg
FoundedMarch 7, 1946; 75 years ago (1946-03-07)
FounderLeonard E. Read
TypeEducational foundation
IRS 501(c)(3) tax exempt[1]
136006960[1]
FocusEconomics, libertarianism
Location
  • Atlanta, Georgia
Coordinates33°48′04″N 84°23′36″W / 33.8010°N 84.3932°W / 33.8010; -84.3932Coordinates: 33°48′04″N 84°23′36″W / 33.8010°N 84.3932°W / 33.8010; -84.3932
Area served
United States
Methodliterature, lecture, conferences, online courses, multimedia, academic scholarship
Key people
President (2019-)[2]

Executive Vice President Richard N. Lorenc

Vice President of Programs and Strategic Operations Jason Riddle
Budget
Revenue: $5,233,293
Expenses: $5,288,134
(FYE March 2018)[3]
Websitefee.org
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The Foundation for Economic Education (FEE) is an American conservative libertarian economic think tank.[4][5][6] It is a member of the State Policy Network.[7]

Views[]

FEE states that its mission is to promote principles of "individual liberty, free-market economics, entrepreneurship, private property, high moral character, and limited government".[8]

History[]

FEE, founded in 1946, is considered the oldest free-market think tank in the United States.[9] An early aim was to roll back policies of the New Deal.[10] FEE opposed the Marshall Plan, Social Security and minimum wages, among other American social and economic policies.[11]

Its founding by Leonard E. Read,[15] Henry Hazlitt,[16] David Goodrich,[17] Donaldson Brown,[18] Leo Wolman,[19] Fred Rogers Fairchild,[20] Claude E. Robinson,[21] and Jasper Crane[22] followed a capital campaign started in 1945 by Crane, who was a DuPont executive, and Alfred Kohlberg.[23] Early contributors included J. Howard Pew, Inland Steel, Quaker Oats, and Sears.[24]

Read served as president from 1946 until his death in 1983. Perry E. Gresham was an interim president in 1983.[25] The presidency of FEE from 1983 to 1984 was held by John Sparks Sr., from 1984 to 1985 by Bob Love, from 1985 to 1988 by a series of acting presidents, then from 1988 to 1992 by Bruce Evans.[26] After retiring from Grove City College where he taught economics, Hans Sennholz served as president from 1992 to 1997.[27] Donald J. Boudreaux served as president from 1997 to 2001, before moving on to chair the Department of Economics at George Mason University.[28] Economist Mark Skousen served as president from 2001 to 2002.[29] Author and professor Richard Ebeling served as president from 2003 to 2008.[30] From 2008 to 2019, the president was economist, author, and professor Lawrence W. Reed.[31] Since 2019, Zilvinas Silvenas has served as the president of the FEE.[32]

Location[]

FEE first occupied two rooms in the Equitable Building in New York City in 1946.[33] Soon after, the organization moved to a residential property in Irvington, New York which Read purchased in 1946 and which served as its headquarters for the next 68 years.[34] The Foundation sold the Irvington headquarters after the transfer of its operations to Atlanta, Georgia.[35]

Impact[]

Murray Rothbard was influenced by FEE economist Baldy Harper and credited FEE with creating a "crucial open center" for a libertarian movement.[36][37] Friedrich Hayek saw FEE as part of the inspiration for the formation of the Mont Pelerin Society in 1947,[38] and FEE also provided a financial subsidy to the society.[39] Hayek encouraged Antony Fisher to found the Institute of Economic Affairs after visiting FEE in 1952.[40] Ludwig von Mises had a "long-term association with the Foundation for Economic Education."[41]

According to the 2020 Global Go To Think Tank Index Report (Think Tanks and Civil Societies Program, University of Pennsylvania), FEE is number 55 in the "Top Think Tanks in the United States" (Table 7 – out of 110).[42]

Programs[]

FEE offers a variety of programs for high school students, undergraduates, and graduate students.[43] Since 1946 FEE has sponsored public lectures by figures including Ludwig von Mises,[44] F.A. Hayek,[45] Henry Hazlitt,[46] Milton Friedman,[47] James M. Buchanan,[48] Vernon Smith,[49] Walter Williams,[50] F.A. "Baldy" Harper,[51] and William F. Buckley Jr.[52]

The Leonard E. Read Distinguished Alumni Award recognizes FEE alumni whom the alumni board considers to have demonstrated an exceptional dedication to liberty. Notable recipients have included:[53][non-primary source needed]

Publications[]

FEE published The Freeman magazine from 1954 to 2016.[55][24][56]

FEE publishes books, articles, and pamphlets both on paper and digitally that the foundation considers classic works on liberty.[57] These include the notable publications I, Pencil: My Family Tree by Read,[58] The Law by Bastiat,[59] Anything That's Peaceful by Read,[60] Planned Chaos by Mises,[61] Industry-Wide Bargaining by Wolman,[62] Up from Poverty: Reflections on the Ills of Public Assistance by Sennholz,[63] and The Virtue of Liberty by Machan.[64][non-primary source needed]

Gallery[]

  • Group tours the FEE library at the Hillside estate

  • Israel Kirzner lecture for FEE on July 28, 2006

  • Faculty panel during a FEE seminar

Assets[]

As of 2018 the Foundation for Economic Education had assets of $8,186,066.[3]

Funding details[]

Notes[]

  1. ^ a b Internal Revenue Service 2012.
  2. ^ President
  3. ^ a b c "Foundation for Economic Education" (PDF). Candid. Retrieved 13 January 2020.
  4. ^ Phillips-Fein 2009, p. 86 "From the Mount Pelerin Society to the National Review, from Spiritual Mobilization to the American Enterprise Association, from the Foundation for Economic Education to the Manion Forum, they produced the ideas, popularized the language, and built the support for conservative economic politics at the very height of postwar liberalism."
  5. ^ Lichtman 2008, p. 173 "He made substantial contributions to Plain Talk, the Freeman, Spiritual Mobilization, the Intercollegiate Society of Individuals, the Foundation for Economic Education, and other conservative groups."
  6. ^ Dochuk, Darren (2011). From Bible Belt to Sunbelt : plain-folk religion, grassroots politics, and the rise of evangelical conservatism. New York. p. 117. ISBN 978-0-393-07927-2. OCLC 916030027. A year later, with the help of a few high-powered executives and intellectual conservatives, he established the Foundation for Economic Education (FEE), in Irvington-on-Hudson, with the goal of reeducating Americans in classical liberalism.
  7. ^ "Foundation for Economic Education". State Policy Network. Retrieved 2021-06-22.
  8. ^ "About FEE". fee.org. 2018-01-11. Retrieved 2021-06-22.
  9. ^ White 2012 "The oldest free-market American think tank is the foundation for Economic Education, founded in 1946..."; Skousen 2015 "In his eighties, he continued to lecture at the Foundation for Economic Education in IrvingtononHudson, New York (the oldest freemarket think tank, founded in 1946 by Leonard Read), and ..."; Hazlitt 2006 "The original officers were David M. Goodrich, chairman of the Board (he was then also chairman of the board of the B.F. Goodrich Company); Leonard Read, president; myself, vice-president; Fred R. Fairchild, professor of economics at Yale University, secretary; and Claude Robinson, president of the Opinion Research Institute, treasurer. [The] sixteen [original] trustees ... included H.W. Luhnow, president of William Volker & Company; A.C. Mattei, president of Honolulu Oil Corporation; William A. Paton of the University of Michigan; Charles White, president of the Republic Steel Corporation; Leo Wolman, professor of economics at Columbia; Donaldson Brown, former vice-president of General Motors; Jasper Crane, former vice-president of Du Pont; B.E. Hutchinson, chairman of the finance committee of Chrysler Corporation; Bill Matthews, publisher of the Arizona Star; W.C. Mullendore, president of the Southern California Edison Company."; Dochuk 2010, p. 114 "The job of economic education must be undertaken now while those who appreciate the value of liberty are still in a position to support it."; Schneider 2009, p. 47; Mirowski & Plehwe 2009, p. 387; Backhouse 2005; Backhouse 2009; Kashyap & Wilcox 1993, p. 384; Farrell 2011; Hülsmann 2007; Plehwe 2006, p. 31; Mirowski & Plehwe 2009, p. 243; Phillips-Fein 2009, p. 19; Hamowy 2008, p. 335; Perelman 2007, p. 64; Phillips-Fein 2009, p. 27; Mirowski & Plehwe 2009, p. 156; Boyack 2011.
  10. ^ Carter, Zachary D. (June 17, 2021). "The End of Friedmanomics". The New Republic. ISSN 0028-6583. Retrieved 2021-07-26.
  11. ^ Lichtman 2008, p. 160.
  12. ^ Burns 2005, p. 84; Rothbard 2006, p. 451.
  13. ^ Dochuk 2010, p. 116.
  14. ^ Heller 2009, p. 197.
  15. ^ Read was the Los Angeles Chamber of Commerce executive director,[12] from 1938[13] to 1945.[14]
  16. ^ of the New York Times
  17. ^ of B. F. Goodrich
  18. ^ of General Motors Corporation
  19. ^ of Columbia University
  20. ^ of Yale University
  21. ^ of Opinion Research Corporation
  22. ^ of duPont
  23. ^ Phillips-Fein 2009, p. ii; Hamowy 2008, p. 62; Schneider 2009, p. 47; Lichtman 2008, p. 160.
  24. ^ a b Phillips-Fein 2009, p. 115; Hamowy 2008, p. 62; Schneider 2009, p. 47; Lichtman 2008, p. 160.
  25. ^ Sennholz 1993, p. 185.
  26. ^ Reed 2012.
  27. ^ Wilcox 2000, p. 151.
  28. ^ Boudreaux 2011.
  29. ^ Skousen 2010.
  30. ^ Ebeling 2009.
  31. ^ Farrell 2011.
  32. ^ "Zilvinas Silenas Named 11th President of the Foundation for Economic Education". Foundation for Economic Education. March 4, 2019.
  33. ^ Dodsworth 1995, p. 2 "In those anxious moments, Thomas I. Parkinson, president of Equitable Life Assurance Company, came to the rescue. He provided Fee with two rooms in the Equitable Building at 737 Seventh Avenue in Manhattan. On the 30th floor, with a magnificent view over the city, Leonard Read set about conducting the affairs of his new organization."
  34. ^ Spikes & Leone 2009, p. 26 " Hillside was sold in 1922 to Gordon Harris, a son of the Baltimore and Ohio Railroad president. ... was purchased in 1946 by Leonard Read and remains the headquarters of Read's Foundation for Economic Education."; Dodsworth 1995; Phillips-Fein 2010.
  35. ^ Farrell 2011 "In early May 2010, FEE opened a branch office in downtown Atlanta."; Olson 2014.
  36. ^ Gordon 2010, p. 12-14 (Rothbard was influenced by Harper at Columbia University); Hazlitt 2006, p. 1 (Harper's title of economist)
  37. ^ Gordon 2010, p. 14.
  38. ^ Phillips-Fein 2009, p. 86; Mirowski & Plehwe 2009, pp. 15, 19, 21, 53, 156, 190, 196, 243, 281, 284, 293, 387, 397, 410; Plehwe 2006, p. 31.
  39. ^ Hamowy 2008, p. 492; Mirowski & Plehwe 2009, p. 15.
  40. ^ Mirowski & Plehwe 2009, p. 387: Anthony Fisher, founded the Institute of Economic Affairs with Hayek's encouragement, following a visit to the Foundation for Economic Education in 1952.
  41. ^ Vaughn 1998 "long-term association with the Foundation for Economic Education..."
  42. ^ James G. McGann (Director) (January 28, 2021). "2020 Global Go To Think Tank Index Report". p. 93. Retrieved October 25, 2021.
  43. ^ Ashford 2011; Giannotta 2011; Foley 2010; Olson 2009.
  44. ^ Phillips-Fein 2009, p. 116; Hamowy 2008, p. 335; Olson 2009.
  45. ^ Phillips-Fein 2009, p. 52; Hamowy 2008, p. 217; Mirowski & Plehwe 2009, p. 285; Olson 2009.
  46. ^ Phillips-Fein 2009, p. 43; Olson 2009.
  47. ^ Hamowy 2008, p. 492; Mirowski & Plehwe 2009, p. 21.
  48. ^ Mirowski & Plehwe 2009, p. 21.
  49. ^ Smith 2006.
  50. ^ Williams 2006.
  51. ^ Hamowy 2008, p. 492.
  52. ^ Phillips-Fein 2009, p. 40.
  53. ^ "Alumni Spotlight". Foundation for Economic Education. Retrieved 17 December 2019.
  54. ^ "Congratulations to Matt Kibbe: 2018 Leonard E. Read Distinguished Alumni Award Winner". Foundation for Economic Education. 20 June 2018. Retrieved 17 December 2019.
  55. ^ ISSN 0016-0652; OCLC 1570149
  56. ^ Olson 2016.
  57. ^ Phillips-Fein 2009, p. 52; Hamowy 2008, p. 62; Olson 2009; Shiflett 2015, p. 176.
  58. ^ Read 1958.
  59. ^ Bastiat 1950.
  60. ^ Read 1998.
  61. ^ Mises 1947.
  62. ^ Wolman 1948.
  63. ^ Sennholz 1997.
  64. ^ Machan 1994.

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