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Major U.S. Think Tanks: Brookings Institute |
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The Brookings Institute, based in Washington DC traces its beginnings to 1916 with the founding of the Institute for Government Research, the first private organization devoted to public policy issues at a national level. In 1922 and 1924 , the Institute was joined by the Institute of Economics and the Robert Brookings Graduate School. In 1927 these three groups were consolidated into one institution, named after the businessman Robert Somers Brookings.
After World War II, the Brookings Institute fostered Republican support for the  Marshall Plan, which the Institute helped to develop. By the 1960s, Brookings was linked to the establishment wing of the Democratic Party, backing Keynesian economics. The Institutes influence on the operations of the federal government, at times, has been substantial. In the 1920s, Brookings was largely responsible for the creation of the federal budget. In the 1970s the Brookings Institute pushed for the creation of the Congressional Budget Office, and then provided its first head, former senior fellow Alice Rivlin.
Official Organizational Status: Private, independent, non-profit Research Institute
Political Orientation: U.S. Centrist
Scope/Research Areas: The Brookings Institute seeks to "improve the performance of American institutions, the effectiveness of government programs, and the quality of U.S. public policies". Its research areas include political economy of market transitions, antitrust, banking, government reform, social norms and economic behavior, national security, budget politics and public administration. Some recent titles include: Eisinger, Peter: Toward an End to Hunger in America. (1998). Hess, Stephen: The Little Book of Campaign Etiquette. (1998). Jencks, C. and M. Phillips (eds.): The Black-White Test Score Gap. (1998). Douglas, A. R. et.al.: Framing the Social Security Debate. Values, Politics, and Economics. (1998).
Funding Sources: 1998 Budget: US$ 23 million. Assets: US$ 192 million. Corporate and private donations (38 %), endowment (30 %), revenue from conferences and seminars (18 %), sales of publications (9 %), government support (2 %).
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Keynesian Economics
In the 1930s John Maynard Keynes formulated the theory of income determination. He was interested in the level of national income and the volume of employment rather than in the equilibrium of the firm or the allocation of resources. Typical aspects of Keynsianism are: Government management of the wage, the welfare state and "development". Popular until the 1960s Keynsianism was thereafter widely replaced by neoliberalism.
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