In Honor of Marriner S. Eccles
"Progressive Leaders"06/01/2012
Recently President Obama awarded the Freedom Medal to four prominent people. A fifth person was missing but perhaps he needs no medals for the U.S. Federal Reserve Building in Washington, D.C., is named after him. That person is Marriner S. Eccles, the architect of the American Monetary System, and arguably the best and most revered economist in the world.
We owe a lot to Marriner S. Eccles for when we followed his advice we prospered as a nation but when we allowed ourselves to be sidetracked from his economic path we suffered. This man predated Lord Keynes in economic policies that Keynes later espoused and that Eccles confirmed and wholeheartedly endorsed.
Eccles was a Republican Economist who consulted and then joined the Roosevelt Administration in a bi-partisan contribution to remake the American Economy after the terrible crash of 1929 brought on the Great Depression. His was a salvage job to clean up the mess created by President Herbert Hoover and the men of the Gilded Age.
A member of our DFL Caucus, Dr. Virgil Fairbanks, has been kind enough to share with us his work of a four part series on the Life and Times of Marriner Eccles with a view to sharing with us some of the economic inventions conceived by this brilliant man.
We will publish it as a three part feature series with Preface by the author and then a fourth part will be added with references and footnotes. A link to each part will appear on the front page of TRD in the Economics Section of the front page. Each day a new part will be added. The sum of the parts will equal a complete portrait of Marriner S. Eccles and it is worth saving for your kids to build upon should they need to perform a report on the American economy.
We hope that you enjoy and learn from this work.
Thank you Dr. Fairbanks for your contribution made to encourage a bi-partisan return to governing our beloved America. We have a reminder of what Democrats are doing to keep our economy alive, why they are doing it, a demonstration of the value of bi-partisanship, and a rebuttal to the bad economic choices fostered by modern Republican neo-cons and tea party factions upon America.
It is worth noting that many Republican Moderates still believe in the directions of Marriner S. Eccles but their Party is chasing them away while labeling them as "Not Republican Enough" and "RINO's" (Republicans In Name Only). The GOP is eating it s children and cannibalizing its Party.
- Editor