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Dean Baker

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Dean Baker


Dean Baker Staff About Us The Center for Economic and Policy Research

July 13, 1958 (age 65) (

Center for Economic and Policy Research Bucknell University

Alma mater
Swarthmore College (B.A., 1981) University of Denver (M.A., 1983) University of Michigan (Ph.D.)

Organizations founded
Center for Economic and Policy Research

University of Denver, University of Michigan, Swarth College

Economics, Macroeconomics, Real estate economics

Social Security: The Phon, The Conservative Nanny St, Getting Back to Full Employm, Plunder and Blunder, The United States Since 1980

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Mark Weisbrot, Jared Bernstein, J Bradford DeLong, Paul Krugman, Alan Greenspan

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Dean Baker (born July 13, 1958) is an American macroeconomist and co-founder, with Mark Weisbrot, of the Center for Economic and Policy Research (CEPR) in Washington, D.C. He is credited as being one of the first economists to have discovered the 2007-2008 United States housing bubble.


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Early life and education

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Baker grew up in the Lake View neighborhood of Chicago.

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In 1981, Baker graduated from Swarthmore College with a bachelor's degree in history with minors in economics and philosophy. In 1983, he received a master's degree in economics from the University of Denver. In 1988, he received a PhD from the University of Michigan in economics.


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From 1988 to 1989, Baker was a lecturer at University of Michigan and then, from 1989 to 1992, an Assistant Professor of Economics at Bucknell University. From 1992 to 1998, Baker was an economist at the Economic Policy Institute. During this time, he published a paper with Mark Weisbrot in a journal of evolutionary economics.

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In 1999, Baker co-founded, together with economist Mark Weisbrot, the Center for Economic and Policy Research (CEPR), an independent, nonpartisan think tank, which produces economic research on topics that affect people's lives to contribute to the public debate (social security, healthcare, the national budget), and internationally (global economy, International Monetary Fund, and Latin America policy).

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Also in 1999, Baker was a Senior Research Fellow at the Preamble Center for Public Policy.

Baker has consulted with officials from the World Bank and has provided testimony to the Joint Economic Committee of the U.S. Congress and to the OECD's Trade Union Advisory Council.

From 1996 to 2006, Baker was the author of a weekly online commentary the economic reporting of the New York Times and Washington Post. The Economic Reporting Review was published from 1996 to 2006. From 2006, he has continued this commentary on his weblog Beat The Press, which was formerly published at The American Prospect, but is now located at the CEPR website.

2007-2008 United States housing bubble

Baker is widely credited with predicting the crash of the United States housing bubble, which occurred from 2007 to 2008. He warned about the coming crisis and the related government policies in several media interviews from 2002 to 2005. Basing his outlook on house-price data-sets produced by the US government, Baker asserted that there was a bubble in the US housing market in August 2002, well before its peak, and predicted that the collapse of this bubble would lead to recession. His prediction for when this recession would hit was out by only one quarter.

Regarding the housing bubble, Baker has been critical of chairman of the Federal Reserve, Alan Greenspan.

He has been critical of the regulatory framework of the real estate and financial industries, the use of financial instruments like collateralized debt obligation, and the performance and conflict of interest of US politicians and regulators.

Baker opposed the US government bailout of Wall Street banks on the basis that the only people who stood to lose from their collapse were their shareholders and high-income CEOs. Regarding any hypothetical, negative effects of not extending the bailout, he explained, "We know how to keep the financial system operating even as banks go into bankruptcy and receivership," citing US government action taken during the S&L crisis of the 1980s. He has ridiculed the US elite for favoring it, asking, "How do you make a DC intellectual look less articulate than Sarah Palin being interviewed by Katie Couric? That's easy. You ask them how failure to pass the bailout will give us a Great Depression."

Personal life

As a graduate student at the University of Michigan, Baker participated in and was arrested at two sit-ins protesting Representative Carl Pursell's votes for military aid to the Contras. In 1986, Baker defeated Donald Grimes in the Democratic primary and ran unsuccessfully against Pursell to represent Michigan's second Congressional district; his candidacy opposed aid to the Contras.

Baker is married to economist Helene Jorgensen. They live in Washington, DC.

Works and publications

Selected articles
  • Baker, Dean; Weisbrot, Mark (December 1994). "The Logic of Contested Exchange". Journal of Economic Issues. 28 (4): 1091–1114. JSTOR 4226888. doi:10.1080/00213624.1994.11505613. 
  • Baker, Dean; Hassett, Kevin (12 May 2012). "The Human Disaster of Unemployment". The New York Times. 
  • Books
  • Baker, Dean (1988). The Logic of Neo-Classical Consumption Theory (Thesis/dissertation). Ann Arbor, MI: University of Michigan. OCLC 68299542. 
  • Baker, Dean; Weisbrot, Mark (1999). Social Security: The Phony Crisis. Chicago, IL: Univ. of Chicago Press. ISBN 978-0-226-03544-4. OCLC 41090883. 
  • Bernstein, Jared; Baker, Dean (2003). The Benefits of Full Employment: When Markets Work for People. Washington, DC: Economic Policy Institute. ISBN 978-1-932-06604-3. OCLC 52467815. 
  • Baker, Dean (2006). The Conservative Nanny State How the Wealthy Use the Government to Stay Rich and Get Richer (Free e-book). Washington, DC: Center for Economic and Policy Research. ISBN 978-1-411-69395-1. OCLC 71423207. 
  • Baker, Dean (2007). The United States Since 1980. Cambridge, England: Cambridge University Press. ISBN 978-0-511-27471-8. OCLC 252534980. doi:10.1017/CBO9780511510830. 
  • Baker, Dean; Frank, Thomas (foreword by) (2009). Plunder and Blunder the Rise and Fall of the Bubble Economy. San Francisco, CA: Berrett-Koehler Publishers. ISBN 978-1-609-94478-0. OCLC 742517362. 
  • Baker, Dean (2011). False Profits Recovering from the Bubble Economy. San Francisco, CA: Berrett-Koehler Publishers. ISBN 978-1-609-94475-9. OCLC 740435886. 
  • Baker, Dean (2010). Taking Economics Seriously. Cambridge, MA: MIT Press. ISBN 978-0-262-01418-2. OCLC 939219451. 
  • Baker, Dean (2011). The End of Loser Liberalism: Making Markets Progressive (Free e-book). Washington, DC: Center for Economic and Policy Research. ISBN 978-0-615-53363-6. OCLC 765978209. 
  • Baker, Dean; Bernstein, Jared (2013). Getting Back to Full Employment: A Better Bargain for Working People (Free e-book). Washington, DC: Center for Economic and Policy Research. ISBN 978-0-615-91835-8. OCLC 866909924. 
  • Baker, Dean (2016). Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer (PDF). Washington, DC: Center for Economic and Policy Research. ISBN 978-0-692-79336-7. OCLC 961184821. 
  • References

    Dean Baker Wikipedia

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