Professional Documents
Culture Documents
OF FREEDOM,
OPPORTUNITY
& ENTERPRISE
The American Enterprise Institute is a community of scholars, staff, and supporters
committed to expanding liberty, increasing individual opportunity, and strengthening
free enterprise. AEI pursues these unchanging ideals through independent thinking,
open debate, reasoned argument, and the highest standards of fact-based research.
Without regard for politics or prevailing fashion, we dedicate our work to a more
prosperous, safer, and more democratic nation and world.
Located in Washington, DC, AEI is a nonpartisan, nonprofit, 501(c)(3) educational
organization. The Institute does not take institutional positions on any issues. We
are supported by private donations from individuals, foundations, and corporations.
AEI does not accept government funding and does not perform contract research.
For more information about AEI, visit our website, www.AEI.org.
AEI SCHOLARS
AND STAFF
225
OP-EDS IN MAJOR
PRINT MEDIA
3,385
SUMMER INTERNSHIP
APPLICATIONS
6,794
DONORS
1,380
TELEVISION AND
RADIO APPEARANCES
2,465
CONGRESSIONAL TESTIMONIES
IN THE 113TH CONGRESS
(JANUARY 3, 2013 JANUARY 3, 2015)
89
243,800
FY 2015 ANNUAL REVENUE
$54.6M
*Numbers are for calendar year 2015 (unless otherwise noted) and are as of November 2015.
DEBATING POVERTY
On May 12, Arthur Brooks participated in a panel on poverty with President
Obama at Georgetown University. The panel, which also featured Harvard
political scientist Robert Putnam and was moderated by the Washington
Posts E. J. Dionne, debated the best ways to address chronic poverty.
Robert Doar and W. Bradford Wilcox participated in a separate panel at the
same event. The summit earned widespread media coverage, including by
the Washington Post, the Wall Street Journal, the New Yorker, and National
Public Radio.
2016 ELECTION
AEI scholars organized predebate forums at the sites of Republican
and Democratic US presidential debates in Cleveland, Las Vegas,
and Boulder. They discussed the need for a conservative message
that speaks to voters hearts and minds, the countrys demographic
shifts, and the economic challenges facing the nation.
CONTENTS
/ IV /
02
POVERTY STUDIES
04
07
08
10
11
12
14
/ 1 /
ECONOMIC
POLICY
STUDIES
ACCELERATING
ECONOMIC
RECOVERY
Part of AEIs core mission is the preservation and promotion of free
market economies in the United States and around the world. AEIs
Economic Policy team consists of leading scholars who are researching
the most crucial issues challenging our economy today and proposing a
range of innovative solutions designed to reform Americas systems and
accelerate its economic recovery. AEI scholars study the national budget,
monetary policy, tax and entitlement reform, financial markets regulation,
and international trade and finance.
z Peter Wallison wrote a second
book on the financial crisis, Hidden
in Plain Sight: What Really Caused
the Worlds Worst Financial Crisis
and Why It Could Happen Again
(Encounter Books, January 2015).
Wallison was interviewed by
dozens of media outlets about
the bookincluding Fox News,
CNN, and CNBC.
/ 2 /
NEW SCHOLARS
Benedic Ippolito joined AEI as
a research fellow to focus on the
economics of health care policy,
with a special focus on the behavior
of health care providers. He has
been investigating how changes
in financial incentives influence
hospital care and how alternative
compensation models influence the
behavior of physicians and the way
they treat patients.
/ 3 /
POVERTY
STUDIES
SEEING PEOPLE
AS ASSETS, NOT
LIABILITIES
Twelve million more Americans live in poverty today than did in 2000.
Work rates for men with low levels of education are collapsing.
Nonmarital births are at elevated levels, and racial gaps in poverty
persist. These are the issues that AEIs Poverty Studies program aims
to address, believing that it is only through free enterprise that we can
stimulate true prosperity and innovative thinkingas opposed to simply
treating poverty. AEIs team of leading academics and practitioners
is dedicated to fostering new ideas for fighting poverty and improving
government programs to help more low-income Americans move up,
advancing those ideas in the public dialogue, and connecting those
ideas to decision makers. All of the programs work takes a human
capital approach to poverty alleviation, understanding that poor people
are not liabilities to be managed but rather assets to develop.
z Nicholas Eberstadt produced
several articles and op-eds about
Americans flight from work and
the impact that has on the modern
welfare state. Eberstadts work on
the decline in marriage and the
falling birth rate appeared in the
Wall Street Journal in February.
z On February 23, NBC News ran the
profile piece Meet Arthur Brooks,
the Republican Partys Poverty
Guru. The article profiled AEIs work
on poverty issues and impact on the
messaging of the 2016 presidential
candidates. Shortly after, MSNBC
ran a segment on AEIs leading
role in reshaping the conservative
approach to poverty alleviation, and
in October, CNN produced a video
/ 4 /
RESTORING THE
AMERICAN DREAM
Robert Doar serves on the executive
committee of the AEI-Brookings Working
Group, an effort by a bipartisan group
of top scholars and policy intellectuals
to identify actionable and politically
viable policy solutions that address
issues of poverty and lack of opportunity
in America. Members include AEIs
Michael Strain and Lawrence Mead.
The groups effort has resulted in
Opportunity, Responsibility, and Security:
A Consensus Plan for Reducing Poverty
and Restoring the American Dream, a
major consensus document published
in December with proposals focusing
on work, family, and education.
NEW SCHOLARS
Maura Corrigan joined AEI as a
visiting fellow to focus on issues
related to child welfare, child
support, food assistance, and
disability. Before AEI, Corrigan
worked as director of the Michigan
Department of Human Services
where she was responsible for
administering Michigans public
assistance programs for low-income
and vulnerable Michigan children
and families.
Lawrence Mead joined AEI as a
visiting scholar to study American
social welfare programs. He is also
a professor of politics and public
policy at New York University.
Known as one of the theoretical
architects of welfare reform in
the 1990s, Mead has written
several influential books (including
Expanding Work Programs for Poor
Men, AEI Press, 2011), in which he
demonstrates that mandatory work
requirements are essential to sound
welfare policy.
Angela Rachidi joined AEI as
a research fellow to work on the
effects of public policy and existing
support programs on low-income
families. Rachidi was previously
a deputy commissioner for policy
research and evaluation at the
Human Resources Administration in
New York City, studying programs
such as Temporary Assistance for
Needy Families, the Supplemental
Nutrition Assistance Program, and
workforce development programs.
/ 5 /
THE
CONSERVATIVE
HEART
/ 6 /
HEALTH
POLICY
STUDIES
KING V. BURWELL
Thomas Miller was involved in the
landmark King v. Burwell case (which
decided the fate of the Affordable
Care Act) from its conception,
meeting with several state-level policy
leaders, and was frequently quoted
in editorials in leading outlets such
as the New York Times regarding
the Supreme Court ACA decisions.
He commented on C-SPAN from
outside the Supreme Court with
his predictions for and reactions to
oral arguments. He also regularly
briefed Senate Republican legislative
directors on ACA replacement
options for the 114th Congress.
PROPOSING
FREE MARKET
HEALTH CARE
ALTERNATIVES
AEIs Health Policy Studies program has been a leader in the debates
on health care policy, promoting free market alternatives to the federal
governments massive new role in the sector and encouraging robust
competition that empowers individuals, not bureaucrats. Through
empirical research and analysis, members of AEIs health team
(which includes practicing physicians, attorneys, academics, and
former policymakers) are helping to advance policy reforms that
increase consumer choice, engender competition and innovation
in the marketplace, improve the corporate tax system, and streamline regulation.
z Joseph Antos published papers
on health care competition and
market-driven innovation in several
academic journals over the course
of the year, including JAAMC:
Academic Medicine and the Journal
of the American Society on Aging.
z Thomas Stossel published his
book, Pharmaphobia: How the
Conflict of Interest Myth Undermines
American Medical Innovation
(Rowman & Littlefield, April 2015).
Stossel reviews the history of conflict
of interest arguments in medicine
and explains why interactions
among companies, physicians,
and medical researchers are not
conflicts but instead prerequisites
for ensuring efficient medical
innovation. He held a book briefing
on Capitol Hill; wrote related
op-eds in the popular press; and
had a series of television and radio
appearances to promote the books
ideas, including NPRs On Point.
/ 7 /
EDUCATION
POLICY
STUDIES
BUILDING A CULTURE
OF EDUCATIONAL
ENTREPRENEURSHIP
AEIs Education Policy Studies program seeks to increase the opportunity
of every American student by building a culture of educational entrepreneurship to profoundly improve teaching and learning. Through
serious discussions and first-rate research that seek to rise above the
political partisanship and policy fads so common in education today, the
program has become a leader in the scholarship of reform and a broker
of relationships among influential education reformers. As a result, AEI
has become a destination for policy experts and practitioners alike who
seek to address Americas biggest education challenges and drive
fundamental change.
z Kevin James coauthored a white
paper with New Americas Alexander
Holt on Income Share Agreements
(ISAs) and briefed Rep. Todd
Youngs (R-IN) office on measures to
provide legal clarity to ISA providers.
On July 29, Rep. Young introduced
the Investing in Student Access Act,
which drew from ideas in Jamess
white paper as well as Andrew
Kellys work on the issue. Following
the introduction of the bill, AEI
hosted a private working group that
convened more than 50 individuals
from a variety of backgrounds.
In late August, former Indiana
Governor Mitch Daniels had an
op-ed in the Washington Post
on ISAs, citing AEI scholars as
architects and supporters of
the idea.
/ 8 /
NEW SCHOLARS
Nat Malkus joined AEI as a
research fellow, focusing on
applying quantitative analysis
to questions on school finance,
charter schools, school choice,
and the future of standardized
testing. Before joining AEI, Malkus
was a senior researcher at the
American Institutes for Research.
/ 9 /
SOCIETY
AND
CULTURE
ADVANCING AN
UNDERSTANDING OF
AMERICAN VALUES
AEI scholars are tackling the challenge of maintaining a culture where
virtue flourishes in tandem with freedom and material progress. Our
scholars are advancing a clear understanding of American culture and
values and exploring how that understanding should in turn inform US
public policy. These are not the narrow cultural values that have so often
divided Americans and poisoned our national politics. Rather, they are
the overarching beliefs that inform our understanding of what it is to be
an Americanhuman liberty, individual opportunity, and free enterprise.
These values have undergirded AEIs endeavors just as they have
inspired generations of Americans.
z Charles Murrays latest book,
By the People: Rebuilding Liberty
without Permission (Crown, May
2015), offers a hopeful message that
rebuilding our traditional freedoms
can be done by we, the people,
using Americas unique civil society
to put government back in its
proper box. AEI promoted the book
extensively nationwide, with Murray
participating in interviews on Fareed
Zakarias GPS (CNN), John Stossels
We the People (Fox), and Wall Street
Journals Opinion Journal.
/ 10 /
POLITICS
AND
PUBLIC
OPINION
ANALYZING OUR
POLITICAL CULTURE
IS THE AMERICAN
DREAM ALIVE?
In December 2014, Karlyn
Bowman released an ebook,
Is the American Dream Alive?
Examining Americans Attitudes.
This AEI Public Opinion Study
is the most comprehensive
collection of survey data from
major pollsters on the American
dream. The study found that
the definition of the American
dream to most Americans has
remained constant over the
years: education, freedom, and
homeownership. Overall, the
study found that Americans still
believe the dream is attainable,
despite increased pessimism
spurred in part by the weakened
US economy.
/ 11 /
FOREIGN
AND
DEFENSE
POLICY
STUDIES
PROMOTING AMERICAN
GLOBAL LEADERSHIP
AEIs Foreign and Defense Policy Studies Program has established itself
as one of the premier defense, security, and regional studies programs
in Washington, DC, that is fighting for freedom, a strong national defense,
and American leadership around the world. Our program is educating
current leaders and a new generation about how to best manage todays
threats and tomorrows challenges and believes that it is in Americas
best interests to make the case for freedom and free enterprise overseas
and that America is a force for good in the world.
/ 12 /
NEW SCHOLARS
Kirsten Madison joined AEI as a
resident fellow and deputy director
of Foreign and Defense Policy
Studies. She has worked on policy
issues from homeland security to
Latin America in various senior
leadership posts at the White
House, US Department of State,
US Department of Homeland
Security, and US Senate Committee
on Foreign Relations.
Matt Mayer joined AEI as a visiting
fellow, focusing on homeland
security, counterterrorism, domestic
preparedness and response, and
immigration issues. Mayer serves
as president of Opportunity Ohio
and has worked in public policy and
politics at both the state and federal
levels, including as a senior official
at the US Department of Homeland
Security and the deputy director
for the Department of Regulatory
Agencies in Colorado.
/ 13 /
OUTREACH AND
COMMUNICATIONS
AEI AS
CONVENER
In 2015, AEI hosted 132 public events or private working groups at
our headquarters, on Capitol Hill, and in select cities nationwide.
Many of these events attracted capacity crowds composed of a diverse
group of business professionals, students, journalists, academics, and
government and military leaders and earned prime media coverage.
AEI is respected by groups on both sides of the political aisle for
bringing together people with divergent points of view for its panel
discussions and private working groups. The following are highlights
of our events over the past year.
JANUARY
z Jim Talent hosted newly minted
House Armed Services Committee
Chairman Mac Thornberry (R-TX)
to coincide with the State of the
Union. In this well-attended event,
also covered on C-SPAN and CNN,
Chairman Thornberry laid out in
detail his agenda for the 114th
Congress and praised the work of
AEIs Marilyn Ware Center team.
(January 20)
z Jeffrey Eisenach hosted Federal
Communications Commissioner
Mike ORielly to discuss the
challenges the FCC will face as it
moves into 2015. The event took
place on the same day as two
congressional net neutrality hearings
on Capitol Hill. (January 21)
z Senate Finance Committee
Chairman Orrin Hatch (R-UT) gave
a keynote address at AEI outlining
his trade policy agenda for the 114th
Congress. (January 30)
/ 14 /
FEBRUARY
z Frederick Hess discussed school
reform and Teach for Americas
vision for the future with TFAs
co-CEO Elisa Villanueva Beard.
(February 11)
z AEI and the Center for
American Progress hosted USAID
Administrator Rajiv Shah, who
reflected on the lessons he has
learned during his five years on the
job. Senators Chris Coons (D-DE)
and Jeff Fortenberry (R-NE) offered
opening remarks. (February 12)
z Frederick Kagan hosted at AEI
Chairman of the House Homeland
Security Committee Michael McCaul
(R-TX), who discussed his strategy
for a renewed global effort to
defeat extremist groups and their
dangerous ideology. (February 12)
MARCH
z Rep. John Delaney (D-MD)
presented his American Infrastructure Fund proposal; a
panel of experts including Alex
Brill commented on the bill in a
discussion moderated by Alex
Pollock. (March 3)
z Iain Duncan Smith, UK
Department for Work and Pensions
secretary of state, discussed the
UK welfare reform effort with Rep.
Todd Young (R-IN) and a panel of
experts, moderated by Robert Doar.
(March 3)
Rajiv Shah
Robert Doar
/ 15 /
Dana Perino
Charles Murray
Michael Smith
Eric Schmidt
Jean Case
/ 16 /
Arun Jaitley
APRIL
z Frederick Kagan released his
major report (written in collaboration
with Norse Corporation) analyzing
Irans cyber activities at a public
AEI event at which Gen. Keith
Alexander delivered the keynote
address. David Sanger published
an exclusive on the report in the
New York Times, and the report was
mentioned in outlets such as the
Hill, Wall Street Journal, the
Washington Examiner, and the
Christian Science Monitor.
(April 17)
z Former White House Press
Secretary Dana Perino sat down
for a discussion at AEI on her new
book, And the Good News Is . . .:
Lessons and Advice from the Bright
Side, with fellow former White House
Press Secretary Mike McCurry from
the Clinton administration. Nearly
250 people attended this event.
(April 23)
z The Case Foundations Jean
Case and Arthur Brooks discussed
forging new paths for public-private
partnerships, promoting social
entrepreneurship, and fostering the
next generation of philanthropic
leaders. (April 24)
z The week after riots in Baltimore,
AEI hosted an important discussion
of the economic and cultural factors
associated with lack of opportunity
for black men and of the ways in
which public policy and culture can
be engaged to make things better.
The event featured a panel including
Michael Smith, who directs the
White Houses My Brothers Keeper
program. The event was covered
live on C-SPAN. (April 29)
MAY
z Arthur Brooks participated in a
panel on how to address chronic
poverty with President Obama at
Georgetown University. The panel
also featured Harvard political
scientist Robert Putnam and was
moderated by the Washington Posts
E. J. Dionne. The summit earned
wide media coverage, including
by the Washington Post, the Wall
Street Journal, the New Yorker, and
National Public Radio. (May 12)
z Leon Aron hosted nine leading
Russian independent scholars for
an event examining the political,
economic, and social crises facing
Russia today and how the Putin
regime has responded. Nearly
150 people gathered for this
unprecedented event in person,
more than 4,000 viewed the video
live or after the event, and it was
covered by media crews from Voice
of America and Russias RTR TV.
(May 14)
z At the direction of Mackenzie
Eaglen, a bipartisan group of DCs
leading national security scholars
and members of Congress came
together on Capitol Hill to discuss
necessary and overdue structural
defense reforms. CNN filmed the
event, which was standing room only
with 220 attendees from the defense
industry and policy community, the
Pentagon, and Capitol Hill. Ahead
of the event, scholars from 15 think
tanks signed an open letter to
Defense Secretary Ash Carter and
the leaders of key congressional
defense committees, urging the
Pentagon and Congress to pursue
these reforms. Eaglen, Thomas
Donnelly, and Roger Zakheim were
among the signatories. (May 14)
JUNE
z Mackenzie Eaglen hosted
Secretary of the Navy Ray Mabus
for a discussion on the future of
the Navy and Marine Corps. More
than 100 people attended the
event, and nearly two dozen press
articles resulted from the discussion.
(June 2)
JULY
z Sen. Lamar Alexander (R-TN),
chairman of the Senate Committee
on Health, Education, Labor, and
Pensions, delivered a keynote
address on higher education reform,
followed by a discussion led by
Andrew Kelly and Kevin James
addressing the opportunities for and
obstacles to change. Sen. Alexander
noted that many of the ideas he has
been promoting came from AEIs
Education team. (July 16)
z Chairman of the House Financial
Services Committee Jeb Hensarling
(R-TX) and a panel of experts
including Peter Wallison and Alex
Pollock discussed the need for
financial regulation reform on the fifth
anniversary of the Dodd-Frank Act.
The event was featured in Politicos
Morning Money newsletter two
days in a row, and C-SPAN covered
it live. (July 21)
/ 17 /
AUGUST
z Arthur Brooks, Chairman of the
Republican National Committee
Ed Gillespie, and Republican
pollster Kristen Soltis Anderson
discussed with moderator Marc
Thiessen the importance of and
need for a conservative message
that speaks to voters hearts and
minds at a public event in Cleveland,
Ohio, the day before the first
Republican Party US presidential
debate. (August 5)
SEPTEMBER
z Former Vice President Richard
Cheney gave a major address
on the consequences of the Iran
nuclear deal to the security and
interests of the United States and
its allies in the Middle East.
(September 8)
z AEI and the Center for American
Progress cohosted a conference to
explore the transformation in New
Orleans schools since Hurricane
Katrina in 2005. Panelists included
a range of notable scholars
and education policymakers
representing the US Department of
Education, the Eli and Edythe Broad
Foundation, the American Federation
of Teachers, the American Institutes
for Research, Teach for America,
and the Louisiana Recovery School
District. (September 16)
z Katherine Zimmerman discussed
her new report recommending
a strategy to defeat al Qaeda in
Yemen with a panel that included
Rep. Will Hurd (R-TX), a former
CIA officer in Yemen, and a
conversation with Gen. Jack Keane
(ret.) on the fight against al Qaeda.
(September 10)
/ 18 /
OCTOBER
z More than 70 state-based leaders
from across the country gathered
at AEI for our Leadership Network
Summit. Over the course of three
days, participants engaged in
honest and open debate across
a range of policy issues with AEI
scholars, participated in interactive
leadership exercises, and competed
in an "elevator pitch" competition,
making the case for free enterprise
in 60 seconds. (September 1719)
z University of Illinois at Chicago
Distinguished Professor Deirdre
McCloskey, Boston College Political
Science Department Chair Susan
Shell, and Ethics and Public Policy
Center Hertog Fellow Yuval Levin
gathered for a discussion before a
capacity crowd with Michael Strain
and Stan Veuger on the relationship
between economic freedom and
well-being. (October 1)
z Jim Talent sat down with Sen. Tom
Cotton (R-AR) to discuss what the
next administration needs to do to
rebuild Americas military, guided
by a new report from AEIs Marilyn
Ware Center for Security Studies.
(October 6)
z Leon Aron hosted Vladimir KaraMurza for a conversation about
political oppression and corruption
in Russia and Putins foreign policy
in Ukraine and Syria. Kara-Murza, a
victim of suspected foul play from
the Putin regime, is a prodemocracy
activist, coordinator of Mikhail
Khodorkovskys civic group Open
Russia, and close friend and political
associate of assassinated opposition
leader Boris Nemtsov. (October 9)
z AEI and Brookings Mountain West
hosted an event in Las Vegas prior
to the Democratic presidential
candidate debate that evening
NOVEMBER
z AEI held its second annual
symposium with His Holiness the
Dalai Lama in Dharamsala, India.
During this private two-day event,
participants explored one of todays
most pressing global challenges:
the search for human happiness in
a world where value is increasingly
defined in purely material terms.
(November 45)
z Israeli Prime Minister Benjamin
Netanyahu received the Irving
Kristol Award at AEIs Annual Dinner
in Washington, DC, and discussed
with Danielle Pletka US-Israel
relations and the growing challenges
facing Israel. (November 9)
z AEI hosted Wall Street Journal
columnist Peggy Noonan for a
conversation with CBS Newss
John Dickerson about her new
book, The Time of Our Lives (Twelve,
November 2015), which chronicles
her career in journalism, the Reagan
White House, and the political arena.
(November 18)
AEI event photography by Tenzin Choejor, Aaron Clamage, Peter Holden, Sylvia Johnson, Mike Morgan, and Eliot VanOtteren.
Benjamin Netanyahu
Richard Cheney
Peggy Noonan
/ 19 /
AEI AS
COMMUNICATOR
AEIS COMMUNICATIONS
AND OUTREACH EFFORTS
MAGNIFY THE IMPACT
OF OUR RESEARCH,
SHAPING THE NATIONAL
CONVERSATION ON
IMPORTANT PUBLIC
POLICY ISSUES.
WE UTILIZE PRINT,
BROADCAST, AND DIGITAL
MEDIA AS WELL AS
TARGETED OUTREACH TO
BRING OUR SCHOLARS
IDEAS TO MILLIONS
OF AMERICANS.
/ 20 /
/ 21 /
AEI AS
INFLUENCER
AEI HAS MADE A CONCERTED
EFFORT TO DISSEMINATE
ITS SCHOLARSHIP TO THOSE
BEST PLACED TO ACT, THUS
EXPANDING ITS OUTREACH
TO POLICYMAKERS AND THEIR
STAFFS ON BOTH SIDES OF
THE POLITICAL AISLE.
AEI SCHOLARS TESTIFY
BEFORE CONGRESSIONAL
COMMITTEES MORE
OFTEN THAN ANY PEER
ORGANIZATION, WITH A
TOTAL OF 89 TESTIMONIES
BEFORE THE 113TH
CONGRESS AND 39
TESTIMONIES THROUGH
MID-NOVEMBER BEFORE
THE 114TH CONGRESS.
/ 22 /
AEI AS
EDUCATOR
AEIs Academic Programs
is defending and promoting
free enterprise and American
leadership in the world on college
campuses across America. We are
encouraging a real competition of
ideas and substantive, civil debate
on campuses, targeting not just the
self-identified true believers but also
persuadable and apathetic students
who are not exposed to smart,
sophisticated thinkers who share
AEIs mission and ethos.
We count more than 5,300 students
in the AEI network, representing
more than 600 campuses across the
country. Our 282 student Executive
Council members are taking a
leadership role in helping AEI
educate their peers on campus
on free enterprise principles.
We are also building our network of
faculty and administrators (nearly
380 to date) who share our belief
that the competition of ideas is
fundamental to institutions of higher
learning. Professors are using
AEI resources (including our new
online learning modules) in their
classrooms; during the 201415
academic year, 26 professors on
20 campuses adopted AEIs minibooks in a classroom or reading
group. These books present a
range of public policy topics to a
lay audience from a free enterprise
perspective.
AEI scholars are also traveling to
campuses for conversations on
AEI AS
COMMUNITY
AEI is enormously grateful for its
1,380 individual, foundation, and
corporate donors who share our
values and stand with us to support
and defend the moral imperatives of
freedom and free enterprise here in
America and abroad.
/ 24 /
z AEI30
AEI30 is AEIs selected cohort of
young leaders in business, finance,
and entrepreneurship who are
interested in serious discussions
on the most significant challenges
facing our country. The program
started in September 2014 with
a New York City chapter that has
grown to 48 members. We have
regular breakfasts in New York
featuring prominent business
leaders such as Dan Loeb, AEI
National Council cochair and CEO
of Third Point LLC; David Roberts,
AEI National Council cochair and
COO of Angelo, Gordon & Co; and
Rob Kapito, founder, president, and
director of BlackRock. The program
plans to continue growing its NYC
membership and then expand to
other cities.
/ 25 /
IN MEMORIAM
Walter Berns
Walter Berns passed away on
January 10 at the age of 95. His
association with AEI began in the late
1970s and lasted more than three
decades. At AEI, his published works
included Making Patriots (2002), After
the People Vote (2001), and Taking
the Constitution Seriously (1987). All
his books had major impact on vitally
important national debates. Lincoln
at Two Hundred (2009), a favorite
of his colleagues, offers a masterful
look at the impact of the president
he admired most. Berns was a
towering intellectual figure on the
US Constitution and wrote prolifically
for both scholarly and popular
audiences, taught hundreds of
students at six universities, served as
a delegate to the UN Commission on
Human Rights, and won the National
Humanities Medal. He was also a
veteran of WWII.
/ 26 /
John H. Makin
On March 30, AEI mourned the loss
of John H. Makin, who had been part
of the AEI family since 1984, when
he first joined as a scholar. Over
his career, he moved in and out of
residence at AEIadvising the US
Treasury Department, Congressional
Budget Office, and International
Monetary Fund; teaching; and
serving as a principal at the hedge
fund Caxton Associates. He rejoined
AEI full time in 2012 as a senior
member of the economics team to
study the US economy, monetary
policy, financial markets, corporate
taxation, and banking. He also wrote
frequently about Japanese, Chinese,
and European economic issues,
and wrote AEI's monthly Economic
Outlook, which paired insightful
research with current economic
topics. Along with his work, his lively
wit and good humor made him truly
loved at AEI.
Fred Thompson
Former AEI visiting fellow Fred
Thompson passed away on
November 1 at the age of 73. He
was a clear and principled thinker
who specialized at AEI in national
security and intelligence and was a
man of wide interests and talents, as
reflected in his career as an attorney,
politician, lobbyist, and actor. He
served his country as a US senator
representing Tennessee, as chairman
of the International Security Advisory
Board at the US Department of
State, as a member of the US-China
Economic and Security Review
Commission, and as a member of
the Council on Foreign Relations.
In 1973, he was appointed as minority
counsel to assist the Republican
senators on the Senate Watergate
Committee. His sonorous voice that
many know so well from his roles in
movies, television, and commercials,
as well as his wry humor, will surely
be missed.
Ben J. Wattenberg
On June 28, AEI mourned the loss of
Ben Wattenberg, who joined AEI
in 1977 to study US politics and
demography, one of a handful of
Democrats whom William J. Baroody
Sr. brought to the Institute around
that time. Wattenberg drew national
attention in 1970 with the publication
of his coauthored book with AEI
adjunct colleague Richard M.
Scammon, The Real Majority, a bestselling analysis of US politics. Over
the course of his career, Wattenberg
was appointed to various committees
and commissions by Presidents
Carter, Reagan, and George H.
W. Bush and penned nearly 1,000
columns as well as a number of other
books, including The Birth Dearth
(1987) and The First Measured
Century (2000). Wattenberg was a
passionate commentator, engaging
in the public debates across a variety
of issues. He hosted a number of
PBS television specials as well as the
weekly program Think Tank with Ben
Wattenberg, which ran for 15 years.
/ 27 /
/ 28 /
AEI AS
RESPONSIBLE
STEWARD
AEIs audited financial performance
for the fiscal year ended on June 30,
2015, is provided in accordance with
GAAP 2015
accounting
conventions.
AEI Expenses
($38.7 million)
($54.6 million)
Corporations 16%
Foundations 44%
nue
rences and
Revenue 4%
Individuals 36%
Conferences and
Other Revenue 4%
Individuals 36%
Social and
Political Studies 12%
Conferences 6%
Communications 13%
Fiscal year activity is for the period July 1, 2014, through June 30, 2015.
/ 29 /
BOARD OF TRUSTEES
GEORGE L. PRIEST
KEVIN B. ROLLINS
ELIOT A. COHEN
EUGENE F. FAMA
MATTHEW K. ROSE
Executive Chairman
BNSF Railway Company
CLIFFORD S. ASNESS
MARTIN FELDSTEIN
GORDON M. BINDER
D. GIDEON SEARLE
AARON L. FRIEDBERG
ARTHUR C. BROOKS
MEL SEMBLER
ROBERT P. GEORGE
THE HONORABLE
RICHARD B. CHENEY
PETER H. COORS
HARLAN CROW
WILSON H. TAYLOR
Chairman Emeritus
Cigna Corporation
WILLIAM H. WALTON
Managing Member
Rockpoint Group, LLC
MARILYN WARE
Chairman, Retired
American Water Works
EMERITUS TRUSTEES
RICHARD B. MADDEN
Chairman
International Paper
CHRISTOPHER B. GALVIN
Chairman
Harrison Street Capital, LLC
ERIC A. HANUSHEK
R. GLENN HUBBARD
JOHN V. FARACI
ROBERT H. MALOTT
PAUL F. OREFFICE
HENRY WENDT
OFFICERS
JOHN L. PALMER
MARK PAULY
RAYMOND V. GILMARTIN
ARTHUR C. BROOKS
President and Beth and Ravenel Curry
Chair in Free Enterprise
HARVEY GOLUB
DAVID GERSON
SAM PELTZMAN
ROBERT F. GREENHILL
Founder and Chairman
Greenhill & Co., Inc.
FRANK J. HANNA
Hanna Capital, LLC
JOHN K. HURLEY
SETH A. KLARMAN
BRUCE KOVNER
Chairman
Caxton Alternative Management, LP
MARC S. LIPSCHULTZ
Partner
Kohlberg Kravis Roberts
JASON BERTSCH
DANIELLE PLETKA
TOBY STOCK
COUNCIL OF ACADEMIC
ADVISERS
GEORGE L. PRIEST, CHAIRMAN
Edward J. Phelps Professor of
Law and Economics
Yale Law School
ALAN J. AUERBACH
JEREMY A. RABKIN
Professor of Law
George Mason University School of Law
HARVEY S. ROSEN
RICHARD J. ZECKHAUSER
RESEARCH STAFF
JOSEPH ANTOS
LEON ARON
JEFFREY EISENACH
R. RICHARD GEDDES
Visiting Scholar
JAMES K. GLASSMAN
Visiting Fellow
MICHAEL AUSLIN
JONAH GOLDBERG
CLAUDE BARFIELD
SCOTT GOTTLIEB, MD
MICHAEL BARONE
PHIL GRAMM
ROGER BATE
MARY HABECK
ERIC BELASCO
KEVIN A. HASSETT
Resident Scholar
Resident Scholar
Resident Fellow
Visiting Scholar
Visiting Scholar
ANDREW G. BIGGS
Resident Scholar
EDWARD BLUM
Visiting Fellow
DAN BLUMENTHAL
JOHN R. BOLTON
Senior Fellow
KARLYN BOWMAN
ALEX BRILL
Research Fellow
JAMES C. CAPRETTA
Visiting Fellow
TIMOTHY P. CARNEY
Fellow
Resident Fellow
Visiting Scholar
Visiting Scholar
THOMAS P. MILLER
Resident Fellow
CHARLES MURRAY
W. H. Brady Scholar
KATHARINE B. STEVENS
Research Fellow
THOMAS P. STOSSEL, MD
Visiting Scholar
MICHAEL R. STRAIN
JAMES PETHOKOUKIS
MARC A. THIESSEN
Visiting Scholar
WILLIAM INGLEE
Fellow
STEPHEN D. OLINER
Scholar
Visiting Fellow
BENEDIC IPPOLITO
TOMAS PHILIPSON
KEVIN JAMES
EDWARD J. PINTO
Research Fellow
Research Fellow
MATTHEW H. JENSEN
Visiting Scholar
ALEX J. POLLOCK
Resident Fellow
RAMESH PONNURU
LEON R. KASS, MD
Research Fellow
PAUL H. KUPIEC
Resident Scholar
DESMOND LACHMAN
NICHOLAS EBERSTADT
Visiting Scholar
Resident Scholar
SHANE TEWS
THOMAS DONNELLY
Resident Fellow
LARRY MEAD
MARK J. PERRY
R. GLENN HUBBARD
MACKENZIE EAGLEN
Resident Fellow
Resident Scholar
JON KYL
J. MATTHEW MCINNIS
ANDREW P. KELLY
ROBERT DOAR
VINCENT H. SMITH
Research Fellow
NORMAN J. ORNSTEIN
MAURA CORRIGAN
Resident Fellow
MICHAEL MAZZA
Visiting Scholar
FREDERICK M. HESS
Research Fellow
SADANAND DHUME
SITA SLAVOV
Visiting Fellow
Resident Scholar
Visiting Fellow
MATT MAYER
Resident Scholar
FREDERICK W. KAGAN
KEVIN CORINTH
DEREK M. SCISSORS
Resident Scholar
ROBERT B. HELMS
LYNNE V. CHENEY
Visiting Fellow
APARNA MATHUR
Visiting Scholar
ROGER F. NORIEGA
Visiting Fellow
EDWARD CONARD
DAVID SCHOENBROD
Research Fellow
Senior Fellow
NAT MALKUS
Visiting Fellow
Resident Fellow
ADAM LERRICK
Visiting Scholar
PHILLIP LOHAUS
Research Fellow
KIRSTEN MADISON
Visiting Fellow
ANGELA RACHIDI
VINCENT R. REINHART
Visiting Scholar
GERARD ROBINSON
Resident Fellow
DALIBOR ROHAC
Research Fellow
MICHAEL RUBIN
Resident Scholar
SALLY SATEL, MD
Resident Scholar
GARY J. SCHMITT
MARK SCHNEIDER
Visiting Scholar
PHILLIP SWAGEL
Visiting Scholar
JIM TALENT
Visiting Fellow
Resident Fellow
STAN A. VEUGER
Resident Scholar
ALAN D. VIARD
Resident Scholar
PETER J. WALLISON
W. BRADFORD WILCOX
Visiting Scholar
WENDELL L. WILLKIE II
Visiting Fellow
PAUL WOLFOWITZ
Visiting Scholar
JOHN YOO
Visiting Scholar
ROGER I. ZAKHEIM
Visiting Fellow
WEIFENG ZHONG
Research Fellow
KATHERINE ZIMMERMAN
Research Fellow
JOEL M. ZINBERG, MD
Visiting Scholar
BENJAMIN ZYCHER
John G. Searle Chair;
Resident Scholar
NATIONAL COUNCIL
Members of AEI's National Council
are business and community leaders
from across the country who are
committed to AEI's success and serve
as ambassadors for AEI, providing
us with advice, insight, and guidance
as we look to reach out to new
friends around the country. Please
contact Toby Stock, vice president of
development and academic programs
(toby.stock@aei.org; 202.862.5834),
if you are interested in learning more
about the National Council.
MARTIN COHEN*
MARTIN GARCIA
DAVID COULTER
Executive Chairman
Cohen & Steers
Vice Chairman
Warburg Pincus
Principal
GCG Partners
HENRY GORDON
C. BOYDEN GRAY
Founding Partner
Boyden Gray & Associates
Managing Principal
The Cambria Group
ANTHONY J. DE NICOLA
Co-President
Welsh, Carson, Anderson & Stowe
STEVEN T. HALVERSON
MICHAEL A. DELANEY
Hammes Company
BILL ACHTMEYER*
KIMBERLY O. DENNIS*
JAY ADAIR*
MICHAEL DOAR
ERWIN AULIS*
JAMES H. DONOVAN*
President
Searle Freedom Trust
JOHN D. BAKER
Managing Director
Goldman Sachs
THILO BEST*
MARK DORMAN
Principal
Bayshore Retirement Partners
RONALD J. GIDWITZ
Managing Partner
Court Square Capital Partners
Chairman and Managing Partner
The Parthenon Group
MARK D. GIBSON
JON D. HAMMES*
KENNETH H. AND YVONNE S. HANNAN*
Colonial Navigation Co. Inc.
JAMES L. HASKEL
JIMMY AND DEE HASLAM
KERRY MURPHY HEALEY
SEAN HEALEY
Managing Director
Endeavor Capital
DAVID G. HERRO*
RICHARD DRIEHAUS*
THOMAS HILLMAN
KURT DUDAS
ROBERT A. ECKERT
KEN HIRSH
CHRISTOPHER F. EGAN*
Chairman
Boyle Investment Group
MARK CARLIN*
Ehrenkranz Partners
Mattel, Inc.
MARTIN C. ELTRICH*
JOHN EVANGELAKOS
Partner
AEA Investors
CHRISTIAN A. FELIPE*
SEAN M. FIELER*
General Partner
Equinox Partners, LP
DONALD V. FITES
JAMES D. CARREKER
RUSSELL L. CARSON*
H. LEE S. HOBSON*
LEWIS M. EISENBERG
MORTON FLEISCHER
SPENCER FLEISCHER
Managing Director
Eagle Capital Management, LLC
STANLEY S. HUBBARD
MARTIN P. HUGHES*
TOD AND SUSAN HULLIN
PAUL J. ISAAC*
Arbiter Partners
RICHARD M. JAFFEE
SHELLY AND MICHAEL KASSEN
General Partner
Welsh, Carson, Anderson & Stowe
EDWARD C. FORST
ROBERT H. CASTELLINI*
MICHAEL L. KEISER*
RANDY P. KENDRICK
Chairman
Castellini Company
JOHN K. CASTLE
Board of Directors
Triad Foundation
RICHARD A. KAYNE
Co-Founder
Recycled Paper Greetings, Inc
Founder
Harbour Group
PETER B. CLARK
JOSH FRIEDMAN
SUE KOFFEL
JOHN KINGSTON
J. CHRISTOPHER KOJIMA
JAMES F. MOONEY*
AMY KORENVAES*
Managing Director
Goldman, Sachs & Co.
President
Harlan and Amy Korenvaes Family Foundation
HARLAN B. KORENVAES*
STEPHEN M. KOTRAN
Sullivan & Cromwell, LLP
WILLIAM KOURAKOS
RODGER R. KROUSE*
HOWARD H. LEACH
President
Leach Capital, LLC
Partner
The Baupost Group, LLC
Morgridge Foundation
ROBERT H. NIEHAUS
PETER NOLAN*
PHILIP AND JUDY NUSSBAUM*
RICHARD R. ONG
Managing Director
Eagle Capital Management, LLC
RICHARD H. LENNY*
BOB LOWE
D. SCOTT LUTTRELL
BARRY L. MACLEAN*
RICHARD MAGNUSON
MICHAEL E. MARTINO*
Co-Founder
Mason Capital Management
M. HOLT MASSEY
ROBERT AND MARY MCCORMACK*
ROSS MCKNIGHT
JAMES M. SENEFF
Executive Chairman
CNL Financial Group, Inc.
ROGER T. SERVISON
Fidelity Investments
STEVEN SHAPIRO
MUNEER SATTER*
Founder
Satter Investment Management, LLC
DAN OKEEFE*
DANIEL S. LOEB*
STEVEN SHAFRAN
CRAIG OVERLANDER
ALEC LITOWITZ*
LOU OBERNDORF
PHILIP LEBHERZ
Chairman
Lebherz Insurance Services, Inc.
ROBERT P. RYAN
JEFFREY L. SILVERMAN
W. ROSS SINGLETARY II
Managing Partner
Arcus Capital Partners
DAVID SMICK
STEVEN PRICE*
ROBERT K. STEEL*
MARC STERN
MAYARI PRITZKER
BARRY S. STERNLICHT
President
Robert and Mayari Pritzker Family Foundation
PHILIP J. PURCELL*
SHELDON M. STONE
ANDY PUZDER*
President
Kern Family Foundation
MICHAEL SULLIVAN*
GENE SYKES
STEVEN TANANBAUM
ROB TAYLOR
DAVID K. REYES
RYAN TAYLOR
J. JOE RICKETTS*
CARL THOMA*
RICHARD J. RIORDAN*
Managing Partner
Thoma Bravo, LLC
HARRY T. MCMAHON
DAVID N. ROBERTS*
DICK UIHLEIN*
LINDA MCMAHON*
DANIEL N. MEZZALINGUA*
THOMAS S. ROBERTS
Managing Director
Summit Partners
Charter Holdings
Chairman
Delphi Financial Group
BUD WATTS
Acquisitions Analyst
FTO
ROBERT ROWLING
GREG MILLER*
CEO
Uline
PETER S. RUMMELL*
GARY L. WILSON
JEFF WYLER
SCOTT ZAJAC
/ 34 /