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Herbert Stein

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The Presidential historical materials of Herbert Stein are in the custody of the National Archives and Records Administration under the provisions of Title I of the Presidential Recordings and Materials Preservation Act of 1974 (44 U.S.C. 2111 note) and implementing regulations. In accordance with the act and regulations, archivists reviewed the file group to identify personal and private materials (including materials outside the date span covered by the act) as well as nonhistorical items. These materials have been returned to the individual who has primary proprietary interest.

Materials covered by the Act have been archivally processed and are described in this register. Items which are security classified or otherwise restricted under the act and regulations have been removed and placed in a closed file. A Document Withdrawal Record (GSA Form 7279 or NA Form 14021) with a description of each restricted document has been inserted at the beginning of each folder from which materials have been removed. A Document Control Record marks the original position of the withdrawn item. Employees of the National Archives will review periodically the unclassified portions of closed materials for the purpose of opening those which no longer require restriction. Certain classified documents may be declassified under authority of Executive Order 13526 in response to a Mandatory Review Request (NA Form 14020) submitted by the researcher.

  • Linear feet of materials:   89.02
  • Approximate number of pages:   171,200

Biographical Note

August 27, 1916 Born, Detroit, Michigan

1935 Williams College, Williamstown, Massachusetts

June 12, 1937 Married Mildred Fishman

1938-1940 Economist, Federal Deposit Insurance Corporation (FDIC)

1940-1941 National Defense Advisory Commission

1941-1944 War Production Board

1944-1945 Ensign USNR

1945 Office War Mobilization and Reconversion

1945-1948 Economist, Committee for Economic Development (CED)

1948-1956 Associate Director Research, CED

1956-1966 Director Research, CED

1966-1967 Vice President, Chief Economist, CED

1967-1969 Senior Fellow, Brookings Institution

1969-1971 Member, Council of Economic Advisers (CEA)

1972-1974 Chairman, CEA

1974-1980 Weekly Columnist - Economy Today, Scripps-Howard newspapers and other publications

1974-1984 A. Willis Robertson Professor of Economics, University of Virginia, Charlottesville

1981- Member, President's Economic Policy Advisory Board

1983- Consultant, U.S. Department of State

Scope and Content Note

A graduate of Williams College (B.A. 1935), with a doctorate in economics from the University of Chicago (1958), Herbert Stein had already become a leading advocate of monetarism in the private sector (CED/Brookings), before being appointed by President Nixon to the Council of Economic Advisers in 1969. As early as 1944, Dr. Stein gained attention in the economics profession by winning the Pabst Brewing Co. prize for the best essay on how the U.S. could achieve full employment after World War II. The next year, 1945, Stein joined the business-supported Committee for Economic Development, becoming director of research, a post he held from 1956 to 1966. From 1966 to 1968, Stein was a fellow of the Brookings Institution.

Noted for his sharp tongue and quick wit, Stein's early assignment as a member of the CEA was to head a post-Vietnam study commission to examine the effects of the Vietnam War on the economy, and the problems of reconversion. He soon became an important economic spokesman for the administration. Other Stein responsibilities and areas of interest were anti-inflation measures, monetary and fiscal techniques, manpower programs, direct intervention in collective bargaining, construction workers contracts, and productivity. Although not a believer of mandatory government-imposed controls, Stein maintained that one should not allow ideological purity to stand in the way of administration objectives. Price and wage controls were viewed as practical necessities to cool the economy and check inflation. In November, 1971, Stein succeeded Paul McCracken as chairman of the CEA. He resigned in August, 1974, to return to his chair of economics at the University of Virginia in Charlottesville.

The files are arranged in fifteen different series: Administrative File; Correspondence Files; Memoranda Files; Meeting Files; Briefing Materials, Policy and Programs Papers, and Reports; Economic Report; Post-Vietnam File; Federal Energy Office; Advisory Committee on the Economic Role of Women; Economic Stabilization Program; Subject Files; Speeches and Statements; Invitations; Appointments and News Summary; and Publications and Printed Materials. The Administrative File is divided into three subseries: Policy and Programs, arranged chronologically by date; Miscellany, arranged alphabetically by folder title; and Travel, arranged chronologically by date. The Correspondence Files are divided into four subseries: Alpha (General) File, arranged chronologically by date; Chronological File, arranged by date; Economics File, arranged alphabetically by name; and Agencies File, arranged alphabetically by name. The Memoranda Files are divided into four subseries: Memos for the President, arranged alphabetically by title and then by name of staff member; CEA Troika Memos, arranged chronologically by date; and CEA Staff Memos, arranged alphabetically by name. The Meeting Files are divided into three subseries: Meetings (General), arranged chronologically by date; Treasury Tax Group and CIEP, arranged chronologically by date; and International Economic Relations, arranged alphabetically by subject.

Briefing Materials, Policy and Programs Papers, and Reports, the fifth Stein series, is divided into three subseries: Agencies File, arranged alphabetically by name; Foreign Economic Outlook, arranged chronologically by date; and Programs, Papers, and Reports, arranged chronologically by date. The Economic Report is arranged alphabetically by folder title, and then by chapter, subtitle, and version. The Post-Vietnam File is arranged alphabetically by title of report. The Federal Energy Office file is arranged alphabetically by subject. The Advisory Committee on the Economic Role of Women file is arranged alphabetically by folder title. The Economic Stabilization series is divided into three subseries: Policy and Programs File, arranged alphabetically by title and then by date; CLC Meetings, arranged chronologically by date; and Reports, arranged by number and by date. The Subject Files are arranged alphabetically by subject. Speeches and Statements are divided into two subseries: Congressional File; and Meetings and Conference File. These two subseries are both arranged chronologically by date. Invitations are arranged alphabetically by subject and then by date. The Appointments and News Summary File is arranged by subject. Publications and Printed Materials are arranged alphabetically by title.

Major correspondents and personalities that figure prominently in these files include: George P. Shultz; Peter M. Flanigan; John R. Dunlop; Roy L. Ash; John D. Ehrlichman; Arthur F. Burns; John C. Whitaker; William E. Timmons; Paul A. Volcker; Donald Rumsfeld; James W. McLane; Herbert G. Klein; C. Jackson Grayson, Jr.; Geoffrey H. Moore; Caspar W. Weinberger; and Fred B. Dent.

Series Description

Boxes:   1-3
Series:   Administration File | Folder Title List
Spans:   1969-1973
Description:   Correspondence, memoranda, press releases, charts, papers, and travel vouchers. This series is divided into three subseries: Policy and Programs, arranged chronologically by date; Miscellany, arranged alphabetically by folder title; and Travel, arranged chronologically by date. Topics covered include: federal credit policies; food prices; interest rates; employment; Wholesale Price Index (WPI); economy; inflation; and the President's new economic program.

Boxes:   3-44
Series:   Correspondence Files | Folder Title List
Spans:   1969-1976
Description:   Correspondence, drafts, memoranda, handwritten notes, papers, charts, reports, press releases, telegrams/cables, newspaper clippings, and printed materials. This series is divided into four subseries: Alpha (General) File (boxes 3-16), arranged chronologically by date and then by letter; Chronological File (boxes 16-17), arranged by date; Economists File (boxes 17-27), arranged alphabetically by name; and Agencies File (boxes 27-44), arranged alphabetically by name.

Alpha (General) File topics include: wage-price controls; inflation; steel imports; economy; President's new economic policy; fiscal policy; employment/unemployment; Phase II; prices; meat imports; money supply; interest rates; taxes; GNP; monetary policy; capital expenditures; energy; growth; cost of living; farm program; Phase IV; ferrous steel exports; fuel supply; housing; savings and loans; and oil imports.

Economists File topics include: commission on money and credit; fiscal and monetary policy; economy; revenue sharing; economic policy; inflation; GNP; consumer credit; NIH cancer funds; interest rates; money supply; tax reform; economic report; unemployment; labor market; energy; Federal Reserve Board; budget; food prices; grain exports; agriculture; trade; imports; new federalism; economic indicators; and price-wage controls.

Agencies File topics include: wage-price freeze; inflation; agriculture; construction wages; GNP; housing finance; President's economic policies; economic indicators; employment; steel industry; exports; energy; U.S. foreign economic policies; trade; oil prices; foreign technology sales; defense budget; economic adjustment program; money supply; monetary policy; Consumer Price Index (CPI); health insurance; growth policy; wages; research & development; productivity; and federal statistics.

Boxes:   45-79
Series:   Memoranda Files | Folder Title List
Spans:   1969-1974
Description:   Correspondence, drafts, memoranda, handwritten notes, telegrams/cables, papers, charts, graphs, tables, press releases, reports, newspaper clippings, and printed materials. This series is divided into four subseries: Memos for the President (boxes 45-47B), arranged alphabetically by title and then by date; White House Staff Memos (boxes 47B-57), arranged alphabetically by folder title and then by name of staff member; CEA Troika Memos (boxes 58-59), arranged chronologically by date; and CEA Staff Memos (boxes 59-79), arranged alphabetically by name. Topics covered in the Memos for the President subseries include: economic indicators; CPI; economy; interest rates; inflation; Phase III; President's new economic policy; price-wage controls; retail sales; food prices; personal income; energy; WPI; money supply; the dollar; and the balance of payments.

White House Staff Memos subseries topics include: economy, inflation; interest rates; fiscal and monetary policy; GNP; economic policy; state development corporations; growth policy; employment/unemployment; revenue sharing; CPI; food prices; administration programs; economic statistics; Vietnam; energy policy; budget; economic section of State of the Union message; meat imports; freeze; Phase IV; foreign assistance policies; wage-price controls; monetary policy; and transportation policy.

CEA Troika Memos subseries topics include: GNP; inflation; economic forecasts; budget; and the economy. CEA Staff Memos subseries topics include: energy; fuel oil; youth unemployment; commodity stockpiles; CPI; interest rates; plant and equipment expenditures; economic policy; international monetary reform; unemployment/employment; taxation; social security; inflation; price-wage controls; Phase IV; food prices; meat imports; economic statistics; housing; money supply; agriculture; international economic policy; trade; SST; and exchange rates.

Boxes:   79-108
Series:   Meetings Files | Folder Title List
Spans:   1969-1974
Description:   Correspondence, drafts, memoranda, handwritten notes, papers, charts, graphs, tables, reports, press releases, newspaper clippings and printed materials. This series is divided into three subseries: Meetings (General) (boxes 79-103), arranged chronologically by date; Treasury Tax Group and CIEP (boxes 103-106), arranged chronologically by date; and International Economic Relations (boxes 106-108), arranged alphabetically by subject. Topics covered in the Meetings (General) subseries file include: inflation; economic and fiscal policy; GNP; monetary policy; economy; prices; CPI; research & development; Phase II; energy; profits; employment; housing; and the international monetary system. Tax Group and CIEP subseries topics include: tax shelters; property taxes; and U.S. international economic policies. International Economic Relations subseries topics include: international monetary system; parity; and energy supplies.

Boxes:   108-129
Series:   Briefing Materials, Policy and Programs Papers, and Reports | Folder Title List
Spans:   1969-1974
Description:   Correspondence, memoranda, charts, papers, reports, handwritten notes, newspaper clippings, and printed materials. This series is divided into three subseries: Agencies File (boxes 108-112), arranged alphabetically by name; Foreign Economic Outlook (boxes 112-115), arranged chronologically by date; and Programs, Papers, and REports (boxes 116-129), arranged chronologically by date. Agencies File subseries topics include: economy; U.S. defense policy; trade; and U.S. foreign economic relations. Programs, Papers, and Reports subseries topics include: inflation; productivity; price controls; wage-price freeze; Federal real property policy; international monetary system; budget; fiscal and monetary policy; energy; interest rates; welfare; and housing.

Boxes:   129-131
Series:   Economic Report | Folder Title List
Spans:   1973-1974
Description:   Correspondence, drafts, memoranda, tables, handwritten notes, and papers. Arranged alphabetically by title and then by chapter, subtitle, and version. Topics covered include: economy, monetary and fiscal policy; inflation; price controls; income distribution; exchange rates; balance of payments; and energy.

Boxes:   132-133
Series:   Post-Vietnam File | Folder Title List
Spans:   1965 (1968)-1969
Description:   Correspondence, tables, papers, and reports. Arranged alphabetically by title of report. Topics covered include: national goals and objectives; budget outlook; and post-Vietnam adjustment programs.

Boxes:   133-136
Series:   Federal Energy Office | Folder Title List
Spans:   1973-1974
Description:   Correspondence, handwritten notes, reports, press releases, charts, papers, and printed materials. Arranged alphabetically by subject. Topics covered include: energy; petroleum supplies/prices; and the oil embargo.

Boxes:   136-139
Series:   Advisory Committee on the Economic Role of Women | Folder Title List
Spans:   1972-1974
Description:   Correspondence, memoranda, handwritten notes, telegrams/cables, press releases, newspaper clippings, and printed materials. Arranged alphabetically by folder title. Topics covered include: economic role of women; and the equal rights amendment.

Boxes:   139-153
Series:   Economic Stabilization Program | Folder Title List
Spans:   1971-1974
Description:   Correspondence, memoranda, drafts, charts and tables, handwritten notes, press releases, telegrams/cables, papers, and printed materials. This series is divided into three subseries: Policy and Programs File (boxes 139-147), arranged alphabetically by folder title and then by date; CLC Meetings (boxes 147-151), arranged chronologically by date; and Reports (boxes 151-153), arranged by number and by date. Policy and Programs File subseries topics include: wage-price controls; Phase II; inflation; small business exemptions; CPI; Phase III; food prices/supplies; economic stabilization regulations; fuel prices; wholesale prices; Phase IV programs; and CLC regulations.

CLC Meetings subseries topics include: inflation; small business exemptions; rent control; wage-price controls; CLC regulations; Phase III; economy; prize freeze; and Phase IV. Reports subseries topics include: economy; economic policy and issues; stabilization program; and the CPI.

Boxes:   153-194
Series:   Subject Files | Folder Title List
Spans:   1969-1974
Description:   Correspondence, drafts, memoranda, handwritten notes, charts, tables, telegrams/cables, press releases, newspaper clippings, and printed materials. Arranged alphabetically by subject. Topics covered include: unemployment; inflation; economy; economic indicators; securities; budget; GNP; economic policy; interest rates; post-Vietnam priorities/planning; wage-price controls; monetary policy; energy; CPI; health insurance; savings and loan institutions; exchange rates; balance of payments; economic indicators; and Phase III.

Boxes:   194-203
Series:   Speeches and Statements | Folder Title List
Spans:   1969-1974
Description:   Correspondence, drafts, memoranda, handwritten notes, press releases, and newspaper clippings. This series is divided into two subseries: Congressional File (boxes 194-200), arranged chronologically by date; and Meetings and Conferences File (boxes 200-203), arranged chronologically by date. Congressional File subseries topics include: President's fiscal program; inflation; economic and monetary policy; GNP; money supply; unemployment; food prices; CPI; energy; international monetary reform; and commodity and materials shortages. Meetings and Conference File subseries topics include: CPI; economy; inflation; economic policy; GNP; unemployment; and the international monetary system.

Boxes:   203-208
Series:   Invitations | Folder Title List
Spans:   1970-1974
Description:   Correspondence, transmittal memos, handwritten notes, telegrams/cables, telephone messages, cards, and printed materials. Arranged alphabetically by subject and then by date.

Boxes:   208-210
Series:   Appointments and News Summary | Folder Title List
Spans:   1969-1974
Description:   Appointment calendars and books, handwritten notes, telephone messages, and press summaries. The appointment calendars are arranged alphabetically by subject, followed by the news summary releases.

Boxes:   210-211
Series:   Publications and Printed Materials | Folder Title List
Spans:   1960 (1969)-1974
Description:   Reprints, publications, and printed materials. Arranged alphabetically by title.

Folder Title List

Available as a searchable Adobe Acrobat PDFpdf file.

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