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American Institute for Economic Research
Free-market think tank From Wikipedia, the free encyclopedia
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The American Institute for Economic Research (AIER) is a free-market, libertarian think tank located in Great Barrington, Massachusetts.[2][3] It was founded in 1933 by Edward C. Harwood, an economist and investment advisor, and is a 501(c)(3) nonprofit.[4] From January 2022 to April 2025, its president was William P. Ruger, who resigned to serve as Deputy Director of National Intelligence for Mission Integration under president Donald Trump.[5] Ruger was succeeded by Samuel Gregg in 2025.[6]
AIER maintains a global network of local chapters called Harwood Salons (previously called the Bastiat Society).[7][8]
AIER is linked to the climate change counter-movement.[9] During the COVID-19 pandemic, it issued the Great Barrington Declaration, which was condemned by health organizations but influenced some policies of Trump and British Prime Minister Boris Johnson.[10][11][12]
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History
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.[13] With $200 (equivalent to $4,858 in 2024) saved from selling his articles, Harwood founded AIER in 1933.[13][4] According to The Berkshire Edge, this makes AIER the "oldest economic research institute in the United States".[14]
Edward Stringham was appointed President of the Institute in 2017;[15] he was preceded by Stephen Adams,[16] Will Ruger became president in 2022,[17] and then Samuel Gregg took over the position in 2025.[6]
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.[18]
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Policy positions
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AIER's stated mission is to "[educate] people on the value of personal freedom, free enterprise, property rights, limited government, and sound money."[19] It takes positions on specific policies such as free trade, deregulation, and the defense of certain civil liberties.[20]
AIER is linked to the climate change counter-movement, and AIER articles such as "Brazilians Should Keep Slashing Their Rainforest" have been criticized as climate change denial.[9][21][22][23][24] AIER has funded research on the comparative benefits that sweatshops supplying multinationals bring to the people working in them.[25][26]
COVID-19 pandemic
During the COVID-19 pandemic, AIER was accused of misinformation campaigns.[9][27]
AIER issued a statement in October 2020 called the Great Barrington Declaration (GBD) which argued for a herd immunity strategy of "focused protection" for people at high risk, while society otherwise should take no steps to prevent infection, before the general availability of COVID-19 vaccines.[28][27][29][30] It was condemned by public health organizations and experts.[27][31][10] Anthony Fauci, the infectious disease expert appointed by the White House, called the GBD "total nonsense" and unscientific.[27] Tyler Cowen, a libertarian economist at George Mason University, called it potentially dangerous.[32] Commentary published by the Niskanen Center called the GBD propaganda.[33]
The declaration and its signatories, publicized by AIER's offshoot the Brownstone Institute, influenced some policies of U.S. President Donald Trump and British Prime Minister Boris Johnson.[11][12] AIER paid for ads on Facebook during this period, promoting its articles against government social distancing measures and mask mandates.[34]
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Programs and affiliations
AIER maintains a global network of local chapters called Harwood Salons (previously called the Bastiat Society).[7][8] It partners for events, initiatives, and other programming with the Atlas Network and other groups such as the Free to Choose Network, Young Voices, and several university centers across the country.[35][36][37]
Funding
AIER owns American Investment Services Inc., an investment advisory firm whose fund was valued at around $285 million in 2020 (equivalent to $346,272,984 in 2024).[38][39][40] Over half of AIER's funding comes from its investments, but it also receives contributions and foundation grants.[34][27] It has partnered with Emergent Order, a public relations company also funded by the Charles Koch Foundation.[39]
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References
External links
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