Co-Director at Center for Economic and Policy Research

Dean Baker co-founded CEPR in 1999. His areas of research include housing and macroeconomics, intellectual property, Social Security, Medicare and European labor markets. He is the author of several books, including "Getting Back to Full Employment: A ... more


If We Tax Share Buybacks, Can We Also Tax Stock Returns?
The Inflation Reduction Act includes a remarkable innovation. If it becomes law in its current form, share buybacks will be taxed at a 1.0 percent rate.
The Semiconductor Bill And The Moderna Billionaires
It’s pretty funny that we continually debate the causes of inequality when we routinely pass bills that redistribute income upward.
NYT Warns Of 1970s Stagflation And Calls For A Volcker-Type Recession
It doesn’t seem all that similar to the 1970s to me. After all, we have not seen (last two quarters excepted) a sharp slowdown in productivity growth after a quarter century surge.
Can We Have A Wage-Price Spiral With Slowing Wage Growth?
The year-over-year increase is telling us largely what wages did in the past, not what they are doing now.
A Cold War With China, Global Warming, And Why We Can’t Have Nice Things
The reason people typically refer to China’s economy as the world’s second-largest economy, after the United States, rather than the largest, is that they use exchange rate conversions of GDP.
How Do We Get A Wage-Price Spiral When Wage Growth Is Slowing?
That’s the question millions are asking. Ostensibly, the Fed is concerned that the economy is too strong and that we are either on the edge, or already stuck in, the sort of wage-price spiral that led to double digit inflation back in the 1970's.


AIA iShares S&P Asia 50 Index Fund
BA The Boeing Company
EWP iShares MSCI Spain Index Fund
FXI iShares China Large-Cap
IEF iShares Lehman 7-10 Year Treasury Bond Fund
JPM JPMorgan Chase & Co.
MS Morgan Stanley
NYT New York Times Co.
UUP PowerShares DB US Dollar Index Bullish Fund



Latest Posts
Trump Veto Student Loan Debt Relief Measure Will Save Government 0.02 Percent Of Projected Spending
On Friday Donald Trump vetoed a resolution passed by Congress, which would have left in place rules making it easier for students to default on debt owed to for-profit colleges that had engaged in deceptive marketing practices.
Japan's Government Will Soon Make A Profit On Its Huge Debt
While Japan's debt to GDP ratio is close to 250 percent, the highest for any wealthy country, it didn't point out that the debt service burden is virtually zero.
Brazil, The Amazon, And Global Warming: It Ain't Quite What The Media Tell You
While the policies of Brazil's right-wing president, Jair Bolsonaro, are disastrous, there is an important part of the story that is being left out of most discussions.
The U.S. Economy Is NOT The World's Largest
Reality often has little place in our political debates.
The Fed Is Not A Church: The NYT Is Unhappy About President Trump Commenting On Fed Policy
The Fed is protected from the whims of the president and other political figures. However there is nothing inappropriate about the president or any other elected official commenting on Fed policy,
WaPo Columnist Discovers That Blue States Have Higher Income Taxes
The current deduction means that the federal government effectively subsidizes 40 cents of every dollar that high income people in blue states pay in state income taxes. This makes it easier for them to raise taxes.

Work Experience

Co-Founder and Co-Director
Center for Economic and Policy Research
1999 - Present (24 years)
Economic Policy Institute
1999 - Present (24 years)


Swarthmore College
1976 / 1981


Getting Back to Full Employment: A Better Bargain for Working People
Jared Bernstein and Dean Baker
Center for Economic & Policy Research

This book is a follow-up to a book written a decade ago by the authors, The Benefits of Full Employment (Economic Policy Institute, 2003). It builds on the evidence presented in that book, showing that real wage growth for workers in the bottom half of the income scale is highly dependent on the overall rate of unemployment. The book also documents another critical yet often overlooked side effect of full employment: improved fiscal conditions (without mindless budget policies like the current sequestration). Finally, the authors present a broad set of policies designed to boost growth and get the unemployment rate down to a level where far more workers have a fighting chance of getting ahead.

The End of Loser Liberalism: Making Markets Progressive
Dean Baker
Center for Economic and Policy Research

Progressives need a fundamentally new approach to politics. They have been losing not just because conservatives have so much more money and power, but also because they have accepted the conservatives' framing of political debates. They have accepted a framing where conservatives want market outcomes whereas liberals want the government to intervene to bring about outcomes that they consider fair. This puts liberals in the position of seeming to want to tax the winners to help the losers. This "loser liberalism" is bad policy and horrible politics. Progressives would be better off fighting battles over the structure of markets so that they don't redistribute income upward. This book describes some of the key areas where progressives can focus their efforts in restructuring the market so that more income flows to the bulk of the working population rather than just a small elite.

Taking Economics Seriously
Dean Baker
The MIT Press

There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently?

Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.

False Profits: Recovering from the Bubble Economy
Dean Baker
Berrett-Koehler Publishers

Despite reports that the recession may be over, the unemployment rate is more than ten percent and home foreclosures are at a record high. It’s no secret that the U.S. economy is in shambles because of the recent housing bubble. However, according to Dean Baker, Co-Director of the Center for Economic and Policy Research, the people who looked the other way as the eight trillion dollar housing bubble grew unchecked are trying to rewrite history by downplaying the impact of the bubble. In Baker’s new book, False Profits: Recovering from the Bubble Economy, he recounts the strategies used by the country’s top economic policymakers to keep the American public unaware of their failure to recognize the housing bubble and to take steps to rein it in before it grew to unprecedented levels, resulting in the loss of millions of jobs, homes, and the life savings for tens of millions of people.

Plunder and Blunder: The Rise and Fall of the Bubble Economy
Dean Baker
Berrett-Koehler Publishers

For the second time this decade, the US economy is sinking into a recession due to the collapse of a financial bubble. The most recent calamity is likely to produce a downturn deeper and longer than the stock market crash of 2001. Dean Baker argues not only that competent economists should have recognized the developing housing bubble, but also that policy makers and the media cheerfully neglected those economists who did predict danger. Baker doesnt engage in 20-20 hindsight, but documents the fundamental policy changes since 1980 that destabilized the economy and eroded the broad prosperity of the post-war period. His expert analysis explains the outcomes clearly so we can prevent similar financial disasters in the future.

The United States Since 1980
Dean Baker
Cambridge University Press

This provocative book describes the sharp right turn the United States has taken following the election of Ronald Reagan as president in 1980. The treatment details how the policies pursued by the Reagan administration were a break from both the policies pursued by prior administrations and those pursued in other wealthy countries. The Reagan administration policies had the effect of redistributing both before- and after-tax income upward, creating a situation in which the bulk of the economic gains over the last quarter century were directed to a small segment of the population. The analysis explains how both political parties have come largely to accept the main tenets of Reaganism, putting the United States on a path that is at odds with most of the rest of the world and is not sustainable.

The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer
Dean Baker

Economist Dean Baker debunks the myth that conservatives favor the market over government intervention. In fact, conservatives rely on a range of “nanny state” policies that ensure the rich get richer while leaving most Americans worse off. It’s time for the rules to change. Sound economic policy should harness the market in ways that produce desirable social outcomes – decent wages, good jobs and affordable health care.

The Benefits of Full Employment: When Markets Work for People
Jared Bernstein and Dean Baker
Economic Policy Institute

When the 1990s business cycle ended, so did full employment. In a very short time millions lost their jobs, and the unemployment rate shot back up. Many economists and policy makers will try to argue that the latter 1990s was an aberration and that we cannot realistically aspire to get back to the tight labor markets that prevailed during that time. But the lessons learned leave us with no justification for not pursuing a true full employment policy.

Social Security: The Phony Crisis
Dean Baker
University Of Chicago Press

Is it true that the Social Security system is in serious trouble and must be repaired? As baby boomers begin to retire, will they inevitably, by force of their sheer numbers, bankrupt the system? Is Social Security a big Ponzi scheme that will leave future generations with little to show for their lifetime of contributions? Is the only way to solve the Social Security crisis through radical changes like privatization or bolstering it with massive new taxes?

According to the authors of this important new study, the answer to these questions is a resounding no. In Social Security: The Phony Crisis, economists Dean Baker and Mark Weisbrot argue that there is no economic, demographic, or actuarial basis for the widespread belief that the program needs to be fixed.