"At heart, he is an academic through and through," says Lindsey. "He'll always put his academic integrity first."
Lindsey says that he would expect Feldstein to be a good administrator, noting, "He knows when to make decisions himself and when to delegate."
A number of Feldstein's colleagues point to his work at the National Bureau for Economic Research (NBER) as evidence that he would be successful at running a large educational institution like Harvard. Feldstein has been president of the Cambridge-based NBER since 1977.
"The NBER was almost bankrupt," Lindsey says, "He turned it around and made it into one of the nation's leading thinktanks."
John B. Shoven, a Stanford professor of economics and a member of the NBER, also speaks highly of Feldstein's management of the organization, which coordinates conferences and funding for economists at universities all over the country.
"Marty has a real-world sensibility to him that is not very common to top-flight academics," Shoven says. "He's practical, straightforward and clear-thinking."
Teaching
And this real-world sensibility carries over into his teaching, according to Assistant Professor of Economics Douglas W. Elmendorf, the head section leader for Feldstein's Social Analysis 10. Elmendorf says the high-profile economist is particularly accessible.
"Ec 10" was the University's most popular course this term for the fourth consecutive year. "He very much enjoys teaching," Elmendorf says, "He cares a lot about the education of Harvard students."
Elmendorf says that Feldstein does more than simply lecture on the rudiments of economic theory; he shows students how to apply them.
Feldstein also teaches Economics 1420: "American Economic Policy," as well as part of a graduate-level public finance course.
Roots
Originally from New York, Feldstein enrolled in the College with plans for a career in law. But by the time the former Adams House resident graduated summa cum laude in 1961, he knew he had found his calling: economics.
On a Fulbright scholarship, Feldstein went on to study at Oxford University, where he received his master's and doctoral degrees and served as a research fellow and lecturer for several years.
In 1967, Feldstein returned to the University for an appointment as assistant professor of economics. A year later, he was promoted to associate professor. And in 1969, at age 30, Feldstein received tenure.
In 1977, Feldstein received the John Bates Clark award, a prestigious honor on a par with the Nobel Prize in economics.
He serves on the board of directors of a number of corporations, among them TRW, the Phoenix Mutual Life Insurance Company and the Hospital Corporation of America.
Associates say that Feldstein enjoys chopping wood at his house in rural Vermont.
Philip P. Pan contributed to the reporting of this article.