John H. Makin was a resident scholar at the American Enterprise Institute (AEI) where he studied the US economy, monetary policy, financial markets, corporate taxation, and banking. He also studied and wrote frequently about Japanese, Chinese, and European economic issues.

Makin served as a consultant to the US Treasury Department, the Congressional Budget Office, and the International Monetary Fund. He spent twenty years on Wall Street as the chief economist, and later as a principal of Caxton Associates a trading and investment firm. Earlier, Makin taught economics at various universities including the University of Virginia. He had also been a scholar at the Bank of Japan, the Federal Reserve Bank of San Francisco, the Federal Bank of Chicago, and the National Bureau of Economic Research. A prolific writer, Makin was the author of numerous books and articles on financial, monetary, and fiscal policy. Makin also wrote AEI’s monthly Economic Outlook which paired insightful research with current economic topics.

Makin received his doctorate and master’s degree in economics from University of Chicago, and bachelor’s degree in economics from Trinity College.


  • Principal, 1995-2010; Chief Economist, 1990-95, Caxton Associates
  • Member, Panel of Economic Advisers, Congressional Budget Office, 1984-94
  • Visiting Scholar, Bank of Japan, 1988
  • Member, Advisory Board, Office of Tax Analysis, 1986-88; Consultant, 1972-80; Senior International Economist, 1971-72, U.S. Treasury Department
  • Research Associate, National Bureau of Economic Research, 1980-86
  • Professor of Economics, 1978-86; Director, Institute for Economic Research, 1983-84; Associate Professor, 1976-78, University of Washington
  • Consultant, International Monetary Fund, 1981-83
  • Visiting Scholar, Federal Reserve Bank of San Francisco, 1977
  • Faculty, University of Wisconsin-Milwaukee, University of Virginia, University of British Columbia, 1966-76
  • Fellow, Federal Reserve Bank of Chicago, 1968-69


Ph.D., M.A., economics, University of Chicago
B.A., economics, Trinity College