FORMATION OF AN ECONOMIC ADVISORY BOARD

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP83M00914R003000090036-5
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 10
• Document Creation Date: December 19, 2016
• Document Release Date: September 28, 2006
• Sequence Number: 36
• Publication Date: March 17, 1982
• Content Type: MEMO

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Formation of an Economic Advisory Board
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 Approved For Release 2006/09128: CIA-RDP83M00914R003000090036-5
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MEMORANDIM FOR: Director of Central Intelligence
FROM Deputy Director for Intelligence
SUBJECT Formation of an Economic Advisory Board
1. Action Requested: Your approval to establish a CIA
Economic Advisory Board comprised of individuals from both the
private and public sectors. This Board could be chaired in a
variety of ways. I recomme ou chair it; if you don't
want to, you migh chair or use one of the
outsiders such as
2. Background: The primary mission of the Board would be
to review C;IA's current and future work in economics, energy,
civilian industry, trade, and finance. The full Board will be
convened for an introductory meeting, but suhsequent meetings
focused on specific subjects would include only those members
interested in the topics under discussion. The private sector
participants would serve as a core membership, with public sector
participants invited on an ad hoe basis when relevant. We would
probably hold no more than four meetings annually. All
participants would be cleared for material classified SECRET.
3. A draft letter of invitation and initial meeting agenda
are attached at Tab A. The letter would go out under our
signature. DDI personnel have worked with to develop
a suggestecl list of both public and privat i ua s who we
think will be able and willing to cooperate with us in this
venture. C)ur joint list of sug ested names is attached at Tab B.
Attachments:
As stated
APPROVED:
er a
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 Approved For Release 2006/09128: CIA-RDP83M00914R003000090036-5
Dear
I am writing to invite you to participate in a specially
created elite advisory body, offering guidance to the Central
Intelligence Agency. This advisory body, known as the CIA
Economic Advisory Roard, will primarily serve to review the
current and future work of the Directorate of Intelligence, CIA's
analytical arm, in economics, energy, international industrial
competitiveness, trade, and finance.
(Passible implementing language: I invite you to attend the
opening session of the Roard on Thursday, 22 April 1982 to
discuss the CIA research program and specific topics as shown in
the attached agenda.)
As a focal point for support to the President and the
Cabinet, CIA is interested in your perception of the central
economic issues that the USG will be confronted with during this
decade, US foreign policy will increasingly focus on economic
iSSUeS:
o The inherent conflict in the cor~nitment of Western
governments to support technological innovation,
introduce state-of-the-art production equipment, and
ensure increasing returns to labor.
o The relative rate of US investment in fixed capital and
long-term implications for industrial competitiveness.
o Trade patterns and international frictions, including
the dependence of specific US industries on certain
critical imported materials.
o Japanese industrial power and its growing impact on
world trade, the struggle for technological supremacy
and market share.
o International monetary issues, including the large
private exposure in high-risk markets.
o World oil production and the allocation of oil
shortfalls.
These issues illustrate the need for sound intelligence
management in order to provide the best possible policy support
 in a timely fashion. The rapidly changing political. and economic
environment has made this task far more difficult today, when
compared with world events of only ten years ago. Not only are
issues growing n-ore complex, but the stakes for the United States
are far higher as individual countries, as well as politically
alienated power blocs, intensify their struggle for remaining raw
materials, industrial prowess, military superiority, and higher
real living standards.
I have selected you knowing that you share my concern for
the economic and strategic; future of the United States and
understand the real dangers that confront us. I look forward to
having the opportunity to tall: with you regarding these matters.
Best regards and best wishes for a prosperous New Year.
Sincerely,
William J. Casey
 Approved For Release 2006/09128: CIA-RDP83M00914R003000090036-5
AGENDA
CENTRAL INTELLIGENCE AGENCY
ECONOMIC ADVISORY BOARD
Thursday, 22 A ril 1982
I. 9x00 APw7 -- 3~resentation on the mission and functions of the
Directorate of Intelligence and the current status of
relevant programs within the vari~,u,s DDI Offices.
II. 9:45 AI~1 -- Brief presentation followed by group discussion
on the following topics;
o Energy research program
o Industrial research effort
o Financial research
o Soviet research program
III. 12x00 Noon -- Lunch in the DCI Conference Room
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 Approved For Release 2006/09128: CIA-RDP83M00914R003000090036-5
Economic Advisory Board: Proposed MembershiQ
Public
Lionel H. Ulmer
Richard D. DeLauer
Marc Leland
Henry Nau
Roger Porter
Murray Weidenbaum
Henry Wallich
William Draper
Robert D. Hormats
Under Secretary for International Affairs
(Commerce)
Under Secretary of Defense for Research
and Engineering
Assistant Secretary of Treasury for
International Affairs
Senior Staff Member, NSC
Secretary, Cabinet Council on Economic
Activity
Chairman, Council of Economic Advisors
Member, Board of Governors, Federal
Reserve
President and Chairman, Export-Import
Bank of the United States
Assistant Secretary of State
Bureau of Economic and Business Affairs
Aaaroved For~~~B~1~~1~ ~ IcN~~nJ4~~~~~s~~~n~~~s~
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Private
George Shultz President, Bechtel Group, Inc.
Alan Greenspan
Richard N. Cooper
Peter M. Flanigan
William Gallagher
Merton J. Peck
W. Michael Blumenthal
Lee L. Morgan
William Abernathy
Robert S. Ingersoll
N. Bruce Hannay
Harald B. Malmgren
Ralph E. Gomory
Wm. N. Hubbard, Jr.
Jack N. Behrman
Ralph Landau
President, Townsend-Greenspan ~c Company,
Inc.
Harvard University
Managing Partner, billion, Read ~c
Company, Inc.
Vice President, Textron Inc.
Yale University
Chairman, Burroughs Corporation
Chairman and Chief Executive Officer
Caterpillar Tractor Co.
President, Westinghouse Electric
Corporation
Harvard Business School
Former Chairman, Borg Warner Corporation
Vice Chairman, Research Bell Laboratories
Malmgren, Inc.
Vice President do Director of Research,
IBM Corporation
Chairman of the~Executive Committee,
Hewlett-Packard Company
President, UpJohn Company
University of North Carolina
Chairman of the Board at Vice Executive
Officer, Halcom Inter. Inc. (NY)
President, Scripps Clinic ac Research
Foundation (California)
Chairman ac Chief Executive Officer,
Hughes Aircraft Company
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Private (Cont'd)
John E. Steiner Vice President, Corporate Product
Development, The Boeing Company
William J. Weisz Vice Chairman, Motorola Inc.
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