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CONTACT: Patrick Ross or Amy Smorodin
August 29, 2005
(202) 289-8928
Dr. John Rutledge Joins PFF Board
Key Developer of Reagan Economic Strategy

WASHINGTON D.C. - The Progress & Freedom Foundation this week named Dr. John Rutledge to its board of directors. Dr. Rutledge was one of the principal architects of President Reagan's economic plan in 1980-81 and has been an advisor to the Bush White House on both the dividend tax cut and rebuilding Iraq. He is the chairman of Rutledge Capital, a private equity investment firm that has invested more than $150 million in middle market manufacturing, distribution, and service companies. He currently serves on PFF's Digital Age Communications Act Advisory Committee.

"I'm delighted that one of the architects of President Reagan's economic strategy, which gave life to today's digital economy, is joining PFF's board," says Dr. George A. (Jay) Keyworth II, PFF's chairman. "Just as his insights into this new economic environment have brought value to his many investors, so too do I expect that he will help guide successfully PFF's efforts in promoting wise public policy."

Dr. Rutledge has started, run, chaired, owned, and harvested dozens of companies, and has managed real money in both mutual funds and private equity. He also authors the acclaimed Rutledge Blog on economic and technology issues at Dr. Rutledge is one of the principal authors of the U.S. Chamber of Commerce study on telecom reform and has written two books and hundreds of articles for major newspapers and magazines. He has testified before the U.S. Congress and has advised government officials in the US, UK, Ireland, and Kuwait.

Dr. Rutledge first introduced his Asset Market Shift framework for analyzing capital markets in The Wall Street Journal in the 1980's. Initially controversial, the framework, in which interest rates and other asset prices are determined by private arbitrage behavior, applies a rigorous foundation from thermodynamics to portfolio management. Dr. Rutledge uses the framework to track asset market shifts and develop strategies that attract capital and build wealth, bridging the gap between macroeconomic analysis and portfolio management. He advises institutional and individual investors how to structure portfolios to take advantage of opportunities created by a temporary divergence of prices from Intrinsic Value. His many advisory and speaking clients include governments, corporations, and financial institutions around the world.

Dr. Rutledge served on the faculties of Tulane University and Claremont McKenna College, where he taught monetary economics, international finance, and econometrics. In 1978, he founded the Claremont Economics Institute, an economic advisory business in Claremont, California. He holds a BA from Lake Forest College and a PhD from the University of Virginia. He is a regular member of the Forbes on Fox show on the Fox News Channel, as well as a guest host of CNBC's Squawk Box.

"PFF is honored that Dr. Rutledge is taking time to join its board," says PFF President Ray Gifford. "With John's broad knowledge of international capital markets and tireless advocacy that technology is the key to America 's competitive future, he will be valuable help in setting PFF's direction." A full list of PFF board members can be found on the PFF web site.

The Progress & Freedom Foundation is a market-oriented think tank that studies the digital revolution and its implications for public policy. It is a 501(c)(3) research & educational organization.



The Progress & Freedom Foundation