Committee for Economic Development
Encyclopedia
The Committee for Economic Development (CED) is an independent, non-profit, non-partisan think tank
based in Washington, DC. Its membership consists of some 200 senior corporate executives and university leaders. According to its mission statement, the organization is "dedicated to policy research on the major economic and social issues of our time and the implementation of its recommendations by the public and private sectors."
CED's goal is to advance sound public policies that promote long-term and broad-based economic growth and opportunity for all Americans. Major policy issues that CED deals with include education reform, campaign finance reform, international trade and development, Social Security, economic and fiscal policy, workforce development, health care, legal and regulatory reform.
advertising firm; and Marion B. Folsom
, treasurer of Eastman Kodak Company. CED's first mission was to help the U.S. economy transition from war to peace-time prosperity. At the end of World War II, CED played a key role in garnering support among the American business community for the Marshall Plan
. CED's work also influenced the Bretton Woods Agreement.
In the 1980s, CED became the first national business organization to become actively involved in education policy. Viewing students as future leaders, citizens, and workers, CED saw improving educational outcomes as vital to economic growth. In recent years, CED has been in the forefront of efforts to quantify the economic benefits of investments in high-quality early education, and in building support among the business community for voluntary, universal preschool.
CED has also played a critical role in the campaign finance reform
debate. As the only national business group to actively support the soft money ban, CED played a decisive role in building support among the business community for passge of the Bipartisan Campaign Reform Act of 2002.
CED has also been active on national budget and fiscal policy. Concerned about the enormous and ballooning federal budget deficit and its effect on long-term economic growth and standard of living, CED has been in the vanguard of the effort to rein in the deficit and to effect action ensuring responsible and forward-looking budget policy in Washington.
, Partner, Hills, Stern & Morley LLP.
CED is led by its 200 member Board of Trustees. CED's Executive Committee is the organization's primary executive body. The Research and Policy Committee (R&P) directs the research agenda at CED.
Once the R&P approves of a research project, a subcommittee of Trustees is formed to direct the research and formulation of policy recommendations. CED's staff, often assisted by outside experts, conducts the research and prepares drafts for review by the subcommittee. Once the subcommittee is satisfied with the findings and recommendations, they are submitted for final approval. A majority of members of the R&P and the applicable subcommittee must approve of the work in order for it to be approved as an official "policy statement." CED's policy statements are its flagship publications, constituting the official policy positions of CED.
Think tank
A think tank is an organization that conducts research and engages in advocacy in areas such as social policy, political strategy, economics, military, and technology issues. Most think tanks are non-profit organizations, which some countries such as the United States and Canada provide with tax...
based in Washington, DC. Its membership consists of some 200 senior corporate executives and university leaders. According to its mission statement, the organization is "dedicated to policy research on the major economic and social issues of our time and the implementation of its recommendations by the public and private sectors."
CED's goal is to advance sound public policies that promote long-term and broad-based economic growth and opportunity for all Americans. Major policy issues that CED deals with include education reform, campaign finance reform, international trade and development, Social Security, economic and fiscal policy, workforce development, health care, legal and regulatory reform.
History
CED was founded in 1942 by a group of business leaders led by Paul G. Hoffman, President of the Studebaker Corporation; William Benton, co-founder of Benton & BowlesBenton & Bowles
Benton & Bowles was a New York-based advertising agency founded by William Benton and Chester Bowles in 1929.-History:The agency's success was closely related to the rise in popularity of radio. Benton & Bowles invented the radio soap opera to promote their clients' products, and by 1936 were...
advertising firm; and Marion B. Folsom
Marion Bayard Folsom
Marion Bayard Folsom was born in McRae, Georgia and was U.S. Secretary of Health, Education, and Welfare from 1955 through 1958. He served in the U.S. Army during World War I and was a member of the American Academy of Arts and Sciences. From 1935 to 1953 he served as the Treasurer of the Eastman...
, treasurer of Eastman Kodak Company. CED's first mission was to help the U.S. economy transition from war to peace-time prosperity. At the end of World War II, CED played a key role in garnering support among the American business community for the Marshall Plan
Marshall Plan
The Marshall Plan was the large-scale American program to aid Europe where the United States gave monetary support to help rebuild European economies after the end of World War II in order to combat the spread of Soviet communism. The plan was in operation for four years beginning in April 1948...
. CED's work also influenced the Bretton Woods Agreement.
In the 1980s, CED became the first national business organization to become actively involved in education policy. Viewing students as future leaders, citizens, and workers, CED saw improving educational outcomes as vital to economic growth. In recent years, CED has been in the forefront of efforts to quantify the economic benefits of investments in high-quality early education, and in building support among the business community for voluntary, universal preschool.
CED has also played a critical role in the campaign finance reform
Campaign finance reform
Campaign finance reform is the common term for the political effort in the United States to change the involvement of money in politics, primarily in political campaigns....
debate. As the only national business group to actively support the soft money ban, CED played a decisive role in building support among the business community for passge of the Bipartisan Campaign Reform Act of 2002.
CED has also been active on national budget and fiscal policy. Concerned about the enormous and ballooning federal budget deficit and its effect on long-term economic growth and standard of living, CED has been in the vanguard of the effort to rein in the deficit and to effect action ensuring responsible and forward-looking budget policy in Washington.
Organization
CED's current president is Charles Kolb. The current co-chairs of CED are W. Bowman Cutter, Managing Director, Warburg Pincus LLC; and Roderick M. HillsRoderick M. Hills
Roderick M. Hills served as Chairman of the U.S. Securities and Exchange Commission between 1975 and 1977. Later he worked at the investment bank of Drexel Burnham Lambert and then at the law firm of Donovan, Leisure, Newton & Irvine. In 1962, he founded the law firm of Munger, Tolles, Hills, and...
, Partner, Hills, Stern & Morley LLP.
CED is led by its 200 member Board of Trustees. CED's Executive Committee is the organization's primary executive body. The Research and Policy Committee (R&P) directs the research agenda at CED.
Once the R&P approves of a research project, a subcommittee of Trustees is formed to direct the research and formulation of policy recommendations. CED's staff, often assisted by outside experts, conducts the research and prepares drafts for review by the subcommittee. Once the subcommittee is satisfied with the findings and recommendations, they are submitted for final approval. A majority of members of the R&P and the applicable subcommittee must approve of the work in order for it to be approved as an official "policy statement." CED's policy statements are its flagship publications, constituting the official policy positions of CED.