|Chair of the Council of Economic Advisers|
|Member of the Council of Economic Advisers|
|Assumed office |
January 20, 2021
Serving with Heather Boushey
|Preceded by||Tomas J. Philipson|
|Born||1955 (age 67–68)|
|Education||Manhattan School of Music (BM)|
Hunter College (MSW)
Columbia University (MA, PhD)
Jared Bernstein (born 1955) is an American economist. He is a senior fellow at the Center on Budget and Policy Priorities. From 2009 to 2011, Bernstein was the chief economist and economic adviser to Vice President Joe Biden in the Obama Administration. In 2008, Michael D. Shear described Bernstein as a progressive and "a strong advocate for workers". Bernstein is currently a Member of the Council of Economic Advisers in the Biden administration.
In February 2023, President Joe Biden nominated Bernstein to serve as Chair of the Council of Economic Advisers.
Early life and education
Bernstein graduated with a bachelor's degree in music from the Manhattan School of Music where he studied double bass with Orin O'Brien. He also earned a Master of Social Work from Hunter College as well as a master's degree in philosophy and a PhD in social welfare from Columbia University. He is of Jewish descent.
Bernstein has taught at Howard University, Columbia University, and New York University. His areas of interest include "federal, state and international economic policies, specifically the middle class squeeze, income inequality and mobility, trends in employment and earnings, low-wage labor markets, poverty, and international comparisons." He is known as a critic of free trade agreements such as the North American Free Trade Agreement (NAFTA).
In 1992, Bernstein started working as a senior official at the Economic Policy Institute (EPI), a liberal think tank with a focus on issues affecting low- and middle-income working people. From 1995 to 1996, he served in the United States Department of Labor as deputy chief economist. He then returned to the EPI, as senior economist and director of the Living Standards Program, until he was selected by Biden. His designated job on the vice presidential staff is a new position, created because of "the critical nature of the economic challenges facing America." Upon his appointment, some journalists claimed that it "contrasts sharply with the more centrist views of many of president-elect Barack Obama's economic advisers."
Bernstein sits on the Congressional Budget Office's advisory committee. He is a contributor at the financial news network CNBC. He also was appointed executive director of the Middle Class Working Families Task Force and is responsible for direct management of the project.
Paul Krugman, a Nobel laureate in economics and a noted progressive columnist, argued in November 2008 that the centrist makeup of President Barack Obama's economic inner circle, the new Economic Recovery Advisory Board, could be used to "give progressive economists a voice," and he mentioned Bernstein and fellow EPI economist president Lawrence Mishel among others as progressive economists who might be suitable for the board.
On September 5, 2020, Bernstein was announced to be a member of the advisory council of the Biden-Harris Transition Team, which was planning the presidential transition of Joe Biden. Subsequently, President Joe Biden selected Bernstein to serve on the Council of Economic Advisors in January 2021.
In February 2023, Bernstein was nominated as Chair of the Council of Economic Advisers by President Biden, replacing Cecilia Rouse.
Dialogue with heterodoxy
In 2018, Bernstein opened a public dialogue with the proponents of the heterodox branch of economics of Modern Monetary Theory, in which Bill Mitchell, a proponent of MMT, was the first to engage.
Bernstein's books include All Together Now: Common Sense for a Fair Economy and Crunch: Why Do I Feel So Squeezed? (And Other Unsolved Economic Mysteries). He coauthored the last nine editions of The State of Working America, an ongoing analysis published since 1988 by the Economic Policy Institute, as well as coauthoring The Benefits of Full Employment: When Markets Work for People, where he states that "[l]ow unemployment by itself cannot address all the inequities in society," and advocates that "[o]ther forms of intervention are still needed to assist disadvantaged populations."
He is a regular columnist for The American Prospect online, a contributor to the CNBC financial news television network, and an op-ed writer in the New York Times and the Washington Post. He has also written Diary entries on the Daily Kos website.
- ^ "Center on Budget and Policy Priorities, Jared Bernstein". Cbpp.org. Retrieved January 7, 2017.
- ^ "Vice President-elect Biden announces Chief Economist and Economic Policy Advisor". Change.gov. Archived from the original on May 9, 2012. Retrieved June 23, 2012.
- ^ a b c d Biden Picks Jared Bernstein as Economic Adviser Shear, Michael D. Washington Post. December 5, 2008. Accessed December 6, 2008.
- ^ a b "Biden announces reshaped economic team, naming 2 new top advisers". CBS News. February 14, 2023. Retrieved February 14, 2023.
- ^ "About Jared Bernstein". Jaredbernsteinblog.com. Retrieved July 18, 2018.
- ^ Friedman, Gabe (November 30, 2020). "Jared Bernstein is 'verklempt' to join Biden's council of economic advisers". Jewish Telegraph Agency.
- ^ a b "Cnbc.com". Cnbc.com. May 23, 2008. Retrieved June 23, 2012.
- ^ "Vice President-elect Biden announces Chief Economist and Economic Policy Advisor | Change.gov: The Obama-Biden Transition Team". Change.gov. Archived from the original on May 9, 2012. Retrieved June 23, 2012.
- ^ Krugman, Paul (November 26, 2008). "About that advisory board" (Blog). The Conscience of a Liberal. The New York Times. Retrieved February 20, 2009.
- ^ "Cindy McCain Joins Biden-Harris Transition Team's Advisory Board". President-Elect Joe Biden. September 28, 2020. Retrieved November 9, 2020.
- ^ "Biden Transition Organization - Staff, Advisors". www.democracyinaction.us. November 9, 2017. Retrieved November 9, 2020.
- ^ "Biden appoints Lael Brainard, Jared Bernstein to key economic jobs". Axios. Retrieved February 14, 2023.
- ^ "Questions for the MMTers" by Jared Bernstein, January 7, 2018
- ^ Bill Mitchell: "An MMT response to Jared Bernstein" - part 1 (January 8, 2018); part 2 (January 9, 2018); part 3 (January 10, 2018).
- ^ "Bernstein Biography on the Berrett-Koehler Publishers Website". Bkconnection.com. Retrieved June 23, 2012.
- ^ "The State of Working America" at the EPI
- ^ "The benefits of full employment". epi.org. Economic Policy Institute. Retrieved August 8, 2016.
April 2003 EPI Book
- ^ Introduction to The benefits of full employment
- ^ Jared Bernstein's Profile, Biography, About at CNBC
- ^ Gardner, Susan (December 5, 2008). "Jared Bernstein named as Biden economic advisor". Daily Kos. Retrieved June 23, 2012.
- Appearances on C-SPAN
- Jared Bernstein collected news and commentary at The New York Times
- 20th-century American Jews
- Economists from New York (state)
- American economics writers
- American male non-fiction writers
- American columnists
- Columbia University School of Social Work alumni
- Silberman School of Social Work at Hunter College alumni
- Manhattan School of Music alumni
- Obama administration personnel
- Writers from New York City
- 1955 births
- Living people
- 21st-century American economists
- Biden administration personnel
- United States Council of Economic Advisers
- 20th-century American economists
- Center on Budget and Policy Priorities
- 21st-century American Jews
- Jewish American economists