The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Marriner Stoddard Eccles (September 9, 1890 - December 18, 1977) was an American banker, economist, and member and chairman of the Federal Reserve Board. Eccles was known during his lifetime chiefly as having been the Chairman of the Federal Reserve under President Franklin D. Roosevelt. He has been remembered for having anticipated and supporting the theories of John Maynard Keynes relative to "inadequate aggregate spending" in the economy which appeared during his tenure.[2] As Eccles wrote in his memoir Beckoning Frontiers (1951): As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.
Eccles was known during his lifetime chiefly as having been the Chairman of the Federal Reserve under President Franklin D. Roosevelt. He has been remembered for having anticipated and supporting the theories of John Maynard Keynes relative to "inadequate aggregate spending" in the economy which appeared during his tenure.[2] As Eccles wrote in his memoir Beckoning Frontiers (1951):
As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth ... to provide men with buying power. ... Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. ... The other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.
by IdiotSavant - Feb 28
by Luis de Sousa - Feb 28 1 comment
by Oui - Mar 1 4 comments
by Frank Schnittger - Feb 23 18 comments
by Oui - Feb 22 27 comments
by Oui - Feb 25
by Frank Schnittger - Feb 20 30 comments
by gmoke - Feb 14 2 comments
by Oui - Mar 4
by Oui - Mar 14 comments
by gmoke - Mar 1
by Luis de Sousa - Feb 281 comment
by Oui - Feb 2831 comments
by Frank Schnittger - Feb 2318 comments
by Oui - Feb 2227 comments
by Frank Schnittger - Feb 2030 comments
by Oui - Feb 2024 comments
by Frank Schnittger - Feb 1914 comments
by Oui - Feb 197 comments
by Oui - Feb 181 comment
by Oui - Feb 1794 comments
by Oui - Feb 168 comments
by Frank Schnittger - Feb 1523 comments
by gmoke - Feb 142 comments
by Frank Schnittger - Feb 1413 comments
by Oui - Feb 145 comments