American Institute for Economic Research, 1954-2000

Collection Overview

Title: The American Institute for Economic Research, 1954-2000

Prominent Dates: 1959-1968

Arrangement: I. Economic Educational Bulletin, and; II. Research Reports and Other Publications

Biographical Note

Colonel Edward C. Harwood (1900-1980) established the American Institute for Economic Research (AIER) in the winter of 1933-1934 to “further scientific advance in the general field of economics by application of the scientific to specific economic problems.” Harwood designed the AIER to function as an independent educational organization wherein AIER faculty, rather than a Board of Trustees, exercised full control over the institute. Additionally, the AIER charter prohibits the organization or its staff from earning any profits from the work of the institute or its members. Profits from the sale publications and membership fees provide the financial base of the AIER.

The work of the AIER progressed slowly at first due to the financial challenges posed by the Great Depression and the obligations of World War Two. Activity picked up in the post-war years. In 1955, the AIER began a program to recruit young people to pursue careers in the social sciences and provide them with financial aid and “educational guidance” throughout college and graduate school. In 1962, the AIER opened a 10,000 square foot research library. By 1968, the AIER was able to provide hosing to its staff members, graduate students, and Fellows.

Beginning in the 1960s, the AIER established and formed partnerships with related organizations. These included the Progress Foundation based in Switzerland, the Behavioral Research Council for Scientific Inquiry into the Problems of Men in Society (BRC), and the American Investment Services, Inc. (AIS). Today, the AIER runs several education programs to help individuals “understand economic concepts” and “apply them to their most important daily decisions.” These programs include summer and visiting research fellowships and an internship program for college students.


The First Quarter Century and Plans for the Future (Great Barrington: 1959)
“AIER After 50 Years: Our History and Plans for the Future” (December 1983)
“Education.” AIER website: (accessed June 6, 2017)

Collection Content

Series One: Economic Education Bulletins

“Special Bulletin” (May 20, 1954)

“A Professor’s Progress” (March 1959)

“The Gold Crisis: The Evolution of Commercial Banking” (December 1960)

“How to Make Slums and Create Barbarians” (October 1968)

E.C. Harwood, “Stop Thieves” (May 1978)

Lawrence S. Pratt and George H. Machen, “Money, Banking and Inflating” (April 1981)

“AIER After 50 Years: Our History and Plans for the Future” (December 1983)

“The Pocket Money Book: A Monetary Chronology of the United States” (December 1989)

“Henry George on Exports and Imports” (April 1990)

Robert V. Andelson, “Henry George and the Reconstruction of Capitalism” (September 1992)

Richard M. Salsman, “The Myth of Market “Bubbles”” (June 1999)

Robert Gilmour, “How to Cover the Gaps in Medicare” (February 2000)

“The Flat Tax: American and European Perspectives” (June 2000)

Kerry A. Lynch, “How to Build Wealth With Tax-Sheltered Investments” (November 2000)

“Forecasting Business Trends” (December 2000)

Series Two: Research Reports and Other Publications

The First Quarter Century and Plans for the Future (Great Barrington: 1959)

E.C. Harwood, Cause and Control of the Business Cycle, 7th Ed. (Great Barrington: 1960)

Economic News (March 1961)

“Our Obsolete Real Estate Taxation” (March 23, 1964)

Economic News (April-May 1963)

“Retail Sweep Accounts” (May 12, 1997)