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American Institute for Economic Research

February 16, 2024

The American Institute for Economic Research (AIER) is a conservative libertarian think tank known for spreading climate and health misinformation, located in Great Barrington, Massachusetts.[4][5] It was founded in 1933 by Edward C. Harwood, an economist and investment advisor. It is a 501(c)(3) nonprofit.[6]

American Institute for
Economic Research
AIER's Historic Cotswold Cottage
AbbreviationAIER
Formation1933; 91 years ago (1933)
FounderEdward C. Harwood
Type501(c)(3) non-profit think tank
04-2121305
Purpose"Conducts independent, scientific, economic research to educate individuals, thereby advancing their personal interests and those of the nation."[1]
Location
President
William P. Ruger[2]
Revenue (2019)
$2,222,727[3]
Expenses (2019)$5,129,945[3]
Websiteaier.org

History edit

Col. Edward C. Harwood was a graduate of the United States Military Academy and served in the Army Corps of Engineers. In the 1920s, he began writing freelance magazine articles on economic issues.[7] With $200 saved from selling his articles, Harwood founded AIER in 1933.[7][6]

Almost since its inception, AEIR has published periodicals. The initial two were the Investment Bulletin and the Research Reports.[8]

Edward Stringham was appointed President of the Institute in 2017;[9] he was preceded by Stephen Adams,[10] and succeeded by Will Ruger in 2022.[2]

In 2019, the Museum of American Finance loaned its entire library collection to AIER, to be hosted, catalogued and made available there. The initial loan period was for five years.[11]

Policy positions edit

AIER has a history of promoting climate change denial,[12][13][14][15] with articles such as "Brazilians Should Keep Slashing Their Rainforest".[16][17][18]

The institution has also funded research on the comparative benefits that sweatshops supplying multinationals bring to the people working in them.[19][20]

According to historian and philosopher Philip Mirowski, AIER has been "leading the charge" to neutralize the Centers for Disease Control and Prevention as "arbiters of public health."[21]

COVID-19 edit

During the COVID-19 pandemic, it was known for spreading misinformation and for promoting a herd immunity strategy of "focused protection" to deal with the pandemic.[22][23]

AIER issued a statement in October 2020 called the Great Barrington Declaration that argued for a herd immunity strategy of "focused protection" to deal with the COVID-19 pandemic.[23] It was roundly condemned by many public health experts.[23][24] Anthony Fauci, the infectious disease expert appointed by the White House, called the declaration "total nonsense" and unscientific.[23] Tyler Cowen, a libertarian economist at George Mason University, wrote that while he sympathized with a libertarian approach to deal with the pandemic, he considered the declaration to be dangerous and misguided.[25] The declaration was also criticized by the Niskanen Center,[26] a formerly libertarian think tank[27] that now calls itself moderate.[28]

AIER paid for ads on Facebook promoting its articles against government social distancing measures and mask mandates.[29]

In October 2020, Twitter removed a tweet by White House coronavirus adviser Scott Atlas linking to an AIER article that argued against the effectiveness of masks.[30]

Affiliations edit

AIER maintains a global network of local chapters called the Bastiat Society.[29] It partners with the Atlas Network and other groups.[31][32]

Funding edit

AIER owns American Investment Services Inc., an investment advisory firm whose fund was valued at around $285 million in 2020.[33][15] The fund includes holdings in a wide range of companies but holds a majority of its assets in diversified exchange-traded funds and gold investments. In 2020, about 14% of its investments were in information technology and telecom companies including Microsoft and Alphabet Inc., about 6% in electric and gas utilities, 5% in fossil fuel companies including Chevron and ExxonMobil, and 2% in food, alcohol, and tobacco stocks, including Mondelez International and Philip Morris International.[15][34]

Over half of AIER's funding comes from its investments, but it also receives contributions and foundation grants. In 2018 it reportedly received US$68,100 from the Charles Koch Foundation, approximately 3% of AIER's revenue for the year.[29][23][1] It has partnered with Emergent Order, a public relations company also funded by the Charles Koch Foundation.[15]

In 2019 the American Institute for Economic Research had total assets of $184,901,564.[3]

References edit

  1. ^ a b "American Institute for Economic Research" (PDF). ProPublica Nonprofit Explorer. Retrieved 20 August 2020.
  2. ^ a b "AIER Welcomes Will Ruger | AIER".
  3. ^ a b c d "2019 Annual Report" (PDF). American Institute for Economic Research. Retrieved 3 December 2020.
  4. ^ Bellow, Heather (2020-10-22). "Draft town letter slams 'risky premise' of Great Barrington Declaration". The Berkshire Eagle.
  5. ^ Cowgill, Terry (2020-10-06). "News Analysis: Disputed 'Great Barrington Declaration' issued by free-market think tank". The Berkshire Edge. Retrieved 2020-10-12.
  6. ^ a b "Charity Navigator - Rating for American Institute for Economic Research". Charity Navigator. Retrieved 2020-10-12.
  7. ^ a b Harwood, Frederick C.; Murray (2008). The Golden Constant: American Institute for Economic Research: 75 Years of Free Thinking on the Free Market (1933-2008). American Institute for Economic Research: Charles. ISBN 9780913610626.
  8. ^ JONES, Chief Judge (9 May 1962). "American Institute for Economic Research v. the United States, 302 F.2d 934 (Ct. Cl. 1962)". U.S. Court of Claims (1855-1982). Retrieved 28 October 2023. almost from its inception, plaintiff has published two periodicals, the Investment Bulletin and the Research Reports
  9. ^ "American Institute for Economic Research Names Next President". 18 November 2023.
  10. ^ GARY HABER (19 March 2015). "$5 million manufacturing tax credit proposed for Pennsylvania". The Mercury (Pennsylvania). Retrieved 28 October 2023. The personal income tax rate is one factor a CEO would look at in deciding where to relocate, said Stephen Adams, president of the American Institute for Economic Research
  11. ^ Sarah Poole (Fall 2019). "MoAF Loans Library Collection to the American Institute for Economic Research". Financial History Magazine. Museum of American Finance (131): 6. ISSN 1520-4723. Retrieved 27 October 2023.
  12. ^ McKie, Ruth E. (1 October 2021). "Obstruction, delay, and transnationalism: Examining the online climate change counter-movement". Energy Research & Social Science. 80: 102217. doi:10.1016/j.erss.2021.102217. ISSN 2214-6296. S2CID 238837623.
  13. ^ Lewandowsky, Stephan; Armaos, Konstantinos; Bruns, Hendrik; Schmid, Philipp; Holford, Dawn Liu; Hahn, Ulrike; Al-Rawi, Ahmed; Sah, Sunita; Cook, John (March 2022). "When Science Becomes Embroiled in Conflict: Recognizing the Public's Need for Debate while Combating Conspiracies and Misinformation". The Annals of the American Academy of Political and Social Science. 700 (1): 26–40. doi:10.1177/00027162221084663. PMC 7613792. PMID 36338265.
  14. ^ Oreskes, Naomi (6 April 2021). Why Trust Science?. Princeton University Press. p. xvii. ISBN 978-0-691-22237-0.
  15. ^ a b c d Nafeez Ahmed (2020-10-09). "Climate Science Denial Network Behind Great Barrington Declaration". www.bylinetimes.com. Retrieved 2020-10-11.
  16. ^ Krugman, Paul (2020-10-26). "Trump Tells Coronavirus, 'I Surrender'". The New York Times. ISSN 0362-4331. Retrieved 2021-02-08. Well, it is, not surprisingly, linked to the Charles Koch Institute. And a perusal of its website reveals that until recently it devoted much of its time to climate denial, putting out articles with titles like "Brazilians Should Keep Slashing Their Rainforest." More recently, however, the institute's focus has shifted to Covid denial. Last month, for example, it published an article lauding Gov. Kristi Noem of South Dakota, whose refusal to take action against the coronavirus has turned her state into what the article called "a fortress of liberty and hope protected from the grasps of overbearing politicians."
  17. ^ Cowgill, Terry (13 October 2020). "'Great Barrington Declaration' and AIER feeling heat on both sides of the Atlantic". The Berkshire Edge. Retrieved 16 October 2020.
  18. ^ Sodha, Sonia (2020-10-11). "The anti-lockdown scientists' cause would be more persuasive if it weren't so half-baked". Retrieved 2021-02-08. what are scientists doing fronting a campaign whose back office is run by a thinktank that flirts with climate change denial?
  19. ^ Greenhalgh, Trish; McKee, Martin; Kelly-Irving, Michelle (18 October 2020). "The pursuit of herd immunity is a folly – so who's funding this bad science?". The Guardian. Retrieved 18 October 2020.
  20. ^ Powell, Benjamin; Skarbek, David (2006-06-01). "Sweatshops and third world living standards: Are the jobs worth the sweat?". Journal of Labor Research. 27 (2): 263–274. doi:10.1007/s12122-006-1006-z. ISSN 1936-4768. S2CID 55642948.
  21. ^ Mirowski, Philip (April 27, 2022). "The Death of Neoliberalism Has Been Greatly Exaggerated". Jacobin. Retrieved June 20, 2023.
  22. ^ McKie, Ruth E. (2022). "Obstruction, delay, and transnationalism: Examining the online climate change counter-movement" (PDF). Energy Research & Social Science. 84. doi:10.1016/j.erss.2021.102387. S2CID 244355931. Nevertheless, this subgroup maintains a presence in the network and promotes anti-science rhetoric, including nuclear conspiracies. Moreover, the technique of employing discredited scientific positions mirror anti-science and conspiratorial debates on the COVID19 pandemic. This includes the anti-lockdown and misinformation campaigns by the Kock funded libertarian American Institute for Economic Research (AIER). The Koch funded institute created the Great Barrington Declaration, similar to the OSIM's Petition Project, and includes climate sceptic authors Dr Jay Bhattacharya and Sunetra Gupta promoted by the counter-movement organisation the Heartland Institute. Overlaps between AIER and other think tanks in a network funded by Koch Industries show the ongoing relationship between fossil interests and the dissemination of scientific misinformation to protect a business as usual scenario even during the time of an international public health crisis on this international web platform.
  23. ^ a b c d e Mandavilli, Apoorva; Stolberg, Sheryl Gay (2020-10-23). "A Viral Theory Cited by Health Officials Draws Fire From Scientists". The New York Times. ISSN 0362-4331. Retrieved 2020-10-28.
  24. ^ "Critics Blast Controversial Declaration in Favor of Herd Immunity". Medscape. Retrieved 2020-10-28.
  25. ^ "A Dangerous Libertarian Strategy for Herd Immunity". Bloomberg.com. 2020-10-15. Retrieved 2020-10-28.
  26. ^ "The Useful Libertarian Idiocy of The Great Barrington Declaration". Niskanen Center. 2020-10-27. Retrieved 2020-10-28.
  27. ^ Coren, Michael J. (31 October 2018). "A libertarian think tank just gave up on libertarianism". Quartz. Retrieved 2020-11-10.
  28. ^ "The Center Can Hold: Public Policy for an Age of Extremes". Niskanen Center. 2018-12-18. Retrieved 2020-11-10.
  29. ^ a b c "American Institute for Economic Research". DeSmog. Retrieved 2020-12-19.
  30. ^ Rahman, Khaleda (October 18, 2020). "Twitter Removes White House Adviser's Tweet Saying Masks Do Not Prevent COVID-19". Newsweek. Retrieved October 25, 2020.
  31. ^ "The pursuit of herd immunity is a folly – so who's funding this bad science?". 2020-10-18. Retrieved 2021-02-08.
  32. ^ Nafeez Ahmed (2020-10-03). "Koch-Funded PR Agency Aided Great Barrington Declaration Sponsor". www.bylinetimes.com. Retrieved 2020-10-13.
  33. ^ "American Investment Services: AIS - Disciplined, Diversified, Cost Effective". American Investment Services, Inc. from the original on November 8, 2020. Retrieved 2020-11-09.
  34. ^ American Investment Services (2020-10-29). "13F-HR".

External links edit

  • Official website

February 16, 2024
american, institute, economic, research, aier, conservative, libertarian, think, tank, known, spreading, climate, health, misinformation, located, great, barrington, massachusetts, founded, 1933, edward, harwood, economist, investment, advisor, nonprofit, amer. The American Institute for Economic Research AIER is a conservative libertarian think tank known for spreading climate and health misinformation located in Great Barrington Massachusetts 4 5 It was founded in 1933 by Edward C Harwood an economist and investment advisor It is a 501 c 3 nonprofit 6 American Institute forEconomic ResearchAIER s Historic Cotswold CottageAbbreviationAIERFormation1933 91 years ago 1933 FounderEdward C HarwoodType501 c 3 non profit think tankTax ID no 04 2121305Purpose Conducts independent scientific economic research to educate individuals thereby advancing their personal interests and those of the nation 1 LocationGreat Barrington MassachusettsPresidentWilliam P Ruger 2 Revenue 2019 2 222 727 3 Expenses 2019 5 129 945 3 Websiteaier wbr org Contents 1 History 2 Policy positions 2 1 COVID 19 3 Affiliations 4 Funding 5 References 6 External linksHistory editCol Edward C Harwood was a graduate of the United States Military Academy and served in the Army Corps of Engineers In the 1920s he began writing freelance magazine articles on economic issues 7 With 200 saved from selling his articles Harwood founded AIER in 1933 7 6 Almost since its inception AEIR has published periodicals The initial two were the Investment Bulletin and the Research Reports 8 Edward Stringham was appointed President of the Institute in 2017 9 he was preceded by Stephen Adams 10 and succeeded by Will Ruger in 2022 2 In 2019 the Museum of American Finance loaned its entire library collection to AIER to be hosted catalogued and made available there The initial loan period was for five years 11 Policy positions editAIER has a history of promoting climate change denial 12 13 14 15 with articles such as Brazilians Should Keep Slashing Their Rainforest 16 17 18 The institution has also funded research on the comparative benefits that sweatshops supplying multinationals bring to the people working in them 19 20 According to historian and philosopher Philip Mirowski AIER has been leading the charge to neutralize the Centers for Disease Control and Prevention as arbiters of public health 21 COVID 19 edit During the COVID 19 pandemic it was known for spreading misinformation and for promoting a herd immunity strategy of focused protection to deal with the pandemic 22 23 AIER issued a statement in October 2020 called the Great Barrington Declaration that argued for a herd immunity strategy of focused protection to deal with the COVID 19 pandemic 23 It was roundly condemned by many public health experts 23 24 Anthony Fauci the infectious disease expert appointed by the White House called the declaration total nonsense and unscientific 23 Tyler Cowen a libertarian economist at George Mason University wrote that while he sympathized with a libertarian approach to deal with the pandemic he considered the declaration to be dangerous and misguided 25 The declaration was also criticized by the Niskanen Center 26 a formerly libertarian think tank 27 that now calls itself moderate 28 AIER paid for ads on Facebook promoting its articles against government social distancing measures and mask mandates 29 In October 2020 Twitter removed a tweet by White House coronavirus adviser Scott Atlas linking to an AIER article that argued against the effectiveness of masks 30 Affiliations editAIER maintains a global network of local chapters called the Bastiat Society 29 It partners with the Atlas Network and other groups 31 32 Funding editAIER owns American Investment Services Inc an investment advisory firm whose fund was valued at around 285 million in 2020 33 15 The fund includes holdings in a wide range of companies but holds a majority of its assets in diversified exchange traded funds and gold investments In 2020 about 14 of its investments were in information technology and telecom companies including Microsoft and Alphabet Inc about 6 in electric and gas utilities 5 in fossil fuel companies including Chevron and ExxonMobil and 2 in food alcohol and tobacco stocks including Mondelez International and Philip Morris International 15 34 Over half of AIER s funding comes from its investments but it also receives contributions and foundation grants In 2018 it reportedly received US 68 100 from the Charles Koch Foundation approximately 3 of AIER s revenue for the year 29 23 1 It has partnered with Emergent Order a public relations company also funded by the Charles Koch Foundation 15 In 2019 the American Institute for Economic Research had total assets of 184 901 564 3 Funding details as of 2019 3 Revenue and support as of 2019 2 222 727 Investment income 57 2 Contributions and grants 36 3 Other revenue 5 2 Program service 1 3 Expenses as of 2019 5 129 945 Salaries compensation benefits 50 1 Other expenses 48 7 Grants 1 2 References edit a b American Institute for Economic Research PDF ProPublica Nonprofit Explorer Retrieved 20 August 2020 a b AIER Welcomes Will Ruger AIER a b c d 2019 Annual Report PDF American Institute for Economic Research Retrieved 3 December 2020 Bellow Heather 2020 10 22 Draft town letter slams risky premise of Great Barrington Declaration The Berkshire Eagle Cowgill Terry 2020 10 06 News Analysis Disputed Great Barrington Declaration issued by free market think tank The Berkshire Edge Retrieved 2020 10 12 a b Charity Navigator Rating for American Institute for Economic Research Charity Navigator Retrieved 2020 10 12 a b Harwood Frederick C Murray 2008 The Golden Constant American Institute for Economic Research 75 Years of Free Thinking on the Free Market 1933 2008 American Institute for Economic Research Charles ISBN 9780913610626 JONES Chief Judge 9 May 1962 American Institute for Economic Research v the United States 302 F 2d 934 Ct Cl 1962 U S Court of Claims 1855 1982 Retrieved 28 October 2023 almost from its inception plaintiff has published two periodicals the Investment Bulletin and the Research Reports American Institute for Economic Research Names Next President 18 November 2023 GARY HABER 19 March 2015 5 million manufacturing tax credit proposed for Pennsylvania The Mercury Pennsylvania Retrieved 28 October 2023 The personal income tax rate is one factor a CEO would look at in deciding where to relocate said Stephen Adams president of the American Institute for Economic Research Sarah Poole Fall 2019 MoAF Loans Library Collection to the American Institute for Economic Research Financial History Magazine Museum of American Finance 131 6 ISSN 1520 4723 Retrieved 27 October 2023 McKie Ruth E 1 October 2021 Obstruction delay and transnationalism Examining the online climate change counter movement Energy Research amp Social Science 80 102217 doi 10 1016 j erss 2021 102217 ISSN 2214 6296 S2CID 238837623 Lewandowsky Stephan Armaos Konstantinos Bruns Hendrik Schmid Philipp Holford Dawn Liu Hahn Ulrike Al Rawi Ahmed Sah Sunita Cook John March 2022 When Science Becomes Embroiled in Conflict Recognizing the Public s Need for Debate while Combating Conspiracies and Misinformation The Annals of the American Academy of Political and Social Science 700 1 26 40 doi 10 1177 00027162221084663 PMC 7613792 PMID 36338265 Oreskes Naomi 6 April 2021 Why Trust Science Princeton University Press p xvii ISBN 978 0 691 22237 0 a b c d Nafeez Ahmed 2020 10 09 Climate Science Denial Network Behind Great Barrington Declaration www bylinetimes com Retrieved 2020 10 11 Krugman Paul 2020 10 26 Trump Tells Coronavirus I Surrender The New York Times ISSN 0362 4331 Retrieved 2021 02 08 Well it is not surprisingly linked to the Charles Koch Institute And a perusal of its website reveals that until recently it devoted much of its time to climate denial putting out articles with titles like Brazilians Should Keep Slashing Their Rainforest More recently however the institute s focus has shifted to Covid denial Last month for example it published an article lauding Gov Kristi Noem of South Dakota whose refusal to take action against the coronavirus has turned her state into what the article called a fortress of liberty and hope protected from the grasps of overbearing politicians Cowgill Terry 13 October 2020 Great Barrington Declaration and AIER feeling heat on both sides of the Atlantic The Berkshire Edge Retrieved 16 October 2020 Sodha Sonia 2020 10 11 The anti lockdown scientists cause would be more persuasive if it weren t so half baked Retrieved 2021 02 08 what are scientists doing fronting a campaign whose back office is run by a thinktank that flirts with climate change denial Greenhalgh Trish McKee Martin Kelly Irving Michelle 18 October 2020 The pursuit of herd immunity is a folly so who s funding this bad science The Guardian Retrieved 18 October 2020 Powell Benjamin Skarbek David 2006 06 01 Sweatshops and third world living standards Are the jobs worth the sweat Journal of Labor Research 27 2 263 274 doi 10 1007 s12122 006 1006 z ISSN 1936 4768 S2CID 55642948 Mirowski Philip April 27 2022 The Death of Neoliberalism Has Been Greatly Exaggerated Jacobin Retrieved June 20 2023 McKie Ruth E 2022 Obstruction delay and transnationalism Examining the online climate change counter movement PDF Energy Research amp Social Science 84 doi 10 1016 j erss 2021 102387 S2CID 244355931 Nevertheless this subgroup maintains a presence in the network and promotes anti science rhetoric including nuclear conspiracies Moreover the technique of employing discredited scientific positions mirror anti science and conspiratorial debates on the COVID19 pandemic This includes the anti lockdown and misinformation campaigns by the Kock funded libertarian American Institute for Economic Research AIER The Koch funded institute created the Great Barrington Declaration similar to the OSIM s Petition Project and includes climate sceptic authors Dr Jay Bhattacharya and Sunetra Gupta promoted by the counter movement organisation the Heartland Institute Overlaps between AIER and other think tanks in a network funded by Koch Industries show the ongoing relationship between fossil interests and the dissemination of scientific misinformation to protect a business as usual scenario even during the time of an international public health crisis on this international web platform a b c d e Mandavilli Apoorva Stolberg Sheryl Gay 2020 10 23 A Viral Theory Cited by Health Officials Draws Fire From Scientists The New York Times ISSN 0362 4331 Retrieved 2020 10 28 Critics Blast Controversial Declaration in Favor of Herd Immunity Medscape Retrieved 2020 10 28 A Dangerous Libertarian Strategy for Herd Immunity Bloomberg com 2020 10 15 Retrieved 2020 10 28 The Useful Libertarian Idiocy of The Great Barrington Declaration Niskanen Center 2020 10 27 Retrieved 2020 10 28 Coren Michael J 31 October 2018 A libertarian think tank just gave up on libertarianism Quartz Retrieved 2020 11 10 The Center Can Hold Public Policy for an Age of Extremes Niskanen Center 2018 12 18 Retrieved 2020 11 10 a b c American Institute for Economic Research DeSmog Retrieved 2020 12 19 Rahman Khaleda October 18 2020 Twitter Removes White House Adviser s Tweet Saying Masks Do Not Prevent COVID 19 Newsweek Retrieved October 25 2020 The pursuit of herd immunity is a folly so who s funding this bad science 2020 10 18 Retrieved 2021 02 08 Nafeez Ahmed 2020 10 03 Koch Funded PR Agency Aided Great Barrington Declaration Sponsor www bylinetimes com Retrieved 2020 10 13 American Investment Services AIS Disciplined Diversified Cost Effective American Investment Services Inc Archived from the original on November 8 2020 Retrieved 2020 11 09 American Investment Services 2020 10 29 13F HR External links editOfficial website Retrieved from https en wikipedia org w index php title American Institute for Economic Research amp oldid 1199022887, wikipedia, wiki, book, books, library,

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