American Institute for Economic Research (AIER)

According to a December 2021 Wall Street Journal editorial, AIER obtained through the Freedom of Information Act (FOIA) emails from 2020 showing that Anthony Fauci, the then-director of the National Institute of Allergy and Infectious Diseases and an advisor to then-President Joe Biden, and Francis Collins, the then-director of the National Institutes of Health, were attempting to undermine proposals argued by “fringe epidemiologists” during the COVID-19 Pandemic. One of these proposals was the “Great Barrington Declaration,” a statement published by several university-based epidemiologists and signed at AIER’s Massachusetts headquarters arguing for “focused protection” of vulnerable populations instead of general lockdown policies.  ^{6 7}

Background

The American Institute for Economic Research (AIER) is a Massachusetts-based think tank that provides research and advocacy on policies supporting “personal freedom, free enterprise, property rights, limited government, and sound money.” ⁸

The organization was founded in 1933 by economist Edward C. Harwood, who was the vice president at the Massachusetts Institute of Technology (MIT) at the time. AIER promotes its advocacy through educational programming, publishing written commentary, and hosting visiting fellow and internship programs. ⁸

According to its 2024 tax filings, AIER claims to have had “3,039 media appearances,” had “20,625 copies” of its reports distributed, released “64 podcasts,” had over “3 million readers,” on its website, and claimed over “2,000 attendees participated in AIER conferences.”  ^{9   3}

Programs

The American Institute for Economic Research (AIER) provides several programs and initiatives to advocate and promote “personal freedom, free enterprise, property rights, limited government, and sound money.” ⁸ The Bastiat Society program organizes “Salons” or gatherings of different sizes to promote its advocacy with community members,  ¹⁰ the Sound Money Project researches and analyzes topics involving “monetary policy, alternative monetary systems, financial markets regulation, [and] cryptocurrencies,”  ¹¹ and the Public Choice and Public Policy project connects scholars and experts to discuss economic and public policy. ¹²

Great Barrington Declaration

In December 2021, the Wall Street Journal published an opinion piece titled “How Fauci and Collins Shut Down Covid Debate” which discussed emails from 2020 that the American Institute for Economic Research had obtained through the Freedom of Information Act (FOIA). The emails suggested that Anthony Fauci, then-director of the National Institute of Allergy and Infectious Diseases and an advisor to then-President Joe Biden, and Francis Collins, then-director of the National Institutes of Health, were attempting to undermine proposals they claimed were argued by “fringe epidemiologists” during the COVID-19 Pandemic. One of these included the “Great Barrington Declaration,” a statement published by several university researchers including Martin Kulldorff of Harvard University, Sunetra Gupta of Oxford University, and Jay Bhattacharya of Stanford University and signed at AIER’s Massachusetts headquarters. ⁷ The statement called for identifying and the “focused protection” of vulnerable populations instead of general lockdown policies.  ⁶

Financials and Funding

According to its 2025 tax filings, the American Institute for Economic Research (AIER) reported a revenue of $13,156,984, expenses of $9,294,095, and net assets of $130,811,092.  ¹³

According to its 2024 tax filings, AIER reported $3.2 million in revenue from contributions and grants. ¹⁴ That same year, AIER received its largest contributions for general support from the Fidelity Investments Charitable Gift Fund ($491,160),  ¹⁵ the Lynde and Harry Bradley Foundation ($300,000),  ¹⁶ and the Sarah Scaife Foundation ($120,000).  ¹⁷

In 2024, AIER paid out $5.3 million in salaries and compensation. Its total expenses were $8.7 million. ¹⁸ It spent $4.5 million on research which produced speaking engagements, media appearances, podcasts, and economic reports. It spent $2.3 million on academic programs which trained and mentored 345 students.  ¹⁹ AIER also awarded $52,491 in grants, including $23,140 to activities outside the U.S.  ²⁰ and $29,351 to graduate-level scholarships. ²¹

Leadership

Samuel Gregg is the president and Friedrich Hayek chair in economics and economic history for the American Institute for Economic Research (AIER). Gregg also works as the general editor of Lexington Books’ Studies in Ethics and Economics series. He was a member of the academic advisory boards for the Institute of Economic Affairs, Campion College, La Fundacion Burke, the Instituto Fe y Libertad, and the Friedman-Hayek Center at the Universidad de CEMA. In addition, he previously sat on the editorial boards for both the Journal of Markets and Morality and the Revista Valores en la sociedad industrial. As of 2026, Gregg had been an elected fellow for the Royal Historical Society and an elected member of the Mont Pelerin Society, the Philadelphia Society, and the Royal Economic Society. Gregg was previously a contributor to the online magazine Law and Liberty and an affiliate scholar at the Acton Institute. ²²

Britt Paul is the senior director of strategic partnerships and external affairs at AIER. Paul is also a member of the Philadelphia Society, a board member of the Instituto de Libertad Economica para Puerto Rico, and a member of the executive committee of the Hispanic Leadership Fund. Paul previously held positions with the Reason Foundation, the State Policy Network, and the LIBRE Initiative. He is a former board member of the Commonwealth Foundation. ²³