— Ch. 1 · Founding And Early Years —
American Economic Association.
~4 min read · Ch. 1 of 6
The American Economic Association formed in 1885 within the quiet resort town of Saratoga Springs, New York. A group of younger progressive economists gathered to establish a new organization for their field. Richard T. Ely and Edwin Robert Anderson Seligman led the effort alongside Katharine Coman. She was the only woman among the co-founders. These founders had been trained under the German historical school of thought. They sought to study actual industrial conditions through history and statistics rather than abstract theory alone. The association published its first journal shortly after formation. It focused on economic research that examined real-world data. By 1900, academics took full control of the organization's direction. This shift moved the group away from its initial broad membership base toward a strictly scholarly community.
Evolution Of Leadership
Harvard University alumni have held the presidency of the American Economic Association since its early days. Eighteen percent of all presidents were former students at Harvard. Twenty percent served as faculty members there. Six major institutions dominate the leadership roster over more than a century. These schools include MIT, Chicago, Columbia, Stanford, and Princeton alongside Harvard. Francis Amasa Walker served as president from 1886 until 1892. He set an early tone for academic rigor in the role. Richard T. Ely took office in 1900 and steered the association through its transition into pure academia. Alice M. Rivlin became the first female president in 1986. Her election marked a significant change in the demographic makeup of the leadership. Recent years show a steady stream of Nobel laureates serving as presidents. Ben Bernanke led the group in 2019 while Janet Yellen followed in 2020. The current president is Katharine Abraham who began her term in 2025.