Morgan is literally the one character whose best strategy is ICS. I can't deny he can be optimized, but his honest best period is the early/midgame right after getting FM, cashing in his free credits and reaping Energy from multitude of low pop cities with +2 Energy on central square each. He falls off immediately later. Morgans traits don't make him a good economist at all, or a competitive research powerhouse; Free Market does. What Morgan gets ultimately is FM while in Green, which isn't better than what University and UNP gets.
He is simply not overpowered at all.