Establishment And Operation Of The American Resident’s Council Of Economic Advisers(1946-1953)

President’s Council of Economic Advisers is a part of the Executive Office of thePresident; it consists of a set of economists and is founded according to Employment Act of1946, aiming at assisting president to regulate economic policy at home and aboard, offeringadvice and ensuring the extreme promotion of employment, production and purchasingpower. Under the help of American agencies and individual, President’s Council ofEconomic Advisers launch many fruitful measures from1946to1953, which makes a greatcontribution to the formulation of presidential economic policy, the development of nationaleconomy, the promotion of communication and cooperation of domestic and foreigngovernments. During this period, the Council of Economic Advisers is at an initial step, lackof valuable experience and referenced standard. Thus the fault and problem are not inevitable.This paper applies lots of American governmental documents, research agency andrelated research materials, making a fully review and investigate into the background, origin,initial movement and effect of President’s Council of Economic Advisers.This paper consists of four parts, including introduction, main body, conclusion andreference.The introduction mainly introduces general situation of research on President’s Councilof Economic Advisers made by Chinese and American academic circles. It also makes a briefintroduction of research method, theory evidence and suggestions.The main body includes three partsThe first part; Look back to the background of the foundation of president’s Council ofeconomic advisers, people from all walks of life in society have a discussion on EmploymentAct of1946and debate of the governmental policy-making circles, which expounds theembryo of foundation, the basis of practice and the opportunity of formal establishment aboutPresident’s Council of Economic Advisers.The second part makes a detailed study of the early development of President’s Council ofEconomic Advisers, involving such aspects of committee staff as constitutes, functions, mainactivities, and internal conflicts and contradictions.The third parts mainly analyses the mechanism innovation and institutional innovation ofPresident’s Council of Economic Advisers on the federal level, and explains the operationmechanism, the initial function, main factors that restricts and influences its development.The conclusion summarizes the main.arguments and.the experience and lessons of earlierPresident’s Council of Economic Advisers. In addition, Drawing on the experience of theUnited States is greatly beneficial to improving China’s official advisory system.