ABSTRACT
This chapter examines the role of think tanks in developing the programs and policies of one presidency. The opening year of the Administration of President Ronald Reagan provides an opportunity to demonstrate both the impacts and the limitations of think tanks in the public policy process. Reducing tax burdens was basic to conservative thinking in the years leading up to the Reagan presidency and a key part of his 1980 presidential campaign. The specific proposals that were adopted arose primarily from the regulatory experts on President-elect Reagan's Task Force on Regulatory Reform. As for monetary policy, the role of University of Chicago economist Milton Friedman was central, both in terms of generating the underlying analysis as well as convincing Ronald Reagan. A variety of economists developed the monetarist approach and ensured that it would get a continuing hearing on the part of governmental decision makers.
