Leland Olds
Encyclopedia
Leland Olds was an American economist. Olds was interested in labor, development of public electric power, and ecology.
Olds came from a traditional Anglo-Saxon
protestant background. As the son of the president of Amherst College
, Olds had been a brilliant mathematics student at Amherst. At Amherst he fell under the spell of the social work movement and the Social Gospel
.
“Jolly, witty, informal” as well as “very fair-minded” and an accomplished cellist, Olds had been a minister, a teacher at Amherst, a researcher both for the federal government and the American Federation of Labor
and a labor journalist before he met Franklin D. Roosevelt
. As governor of New York, Roosevelt appointed him to the New York State Power Authority. Olds believed in the “complete passing of the old order of capitalism”. A complete transformation of the American economic system was needed, which had to depart from its laissez-faire impetus and economic individualism
. As an alternative, Olds favored consumer cooperation as the basis of a new American economic model. Complementary to his cooperative beliefs, Olds was “very much consumer
oriented”.
Olds was a deeply religious and idealistic man, who after a long search for a worthy cause to give purpose to his life, had completely dedicated himself to the public power fight. Wide availability of cheap power was crucial, Olds felt, for the social well being of the mass of the American people.
Olds believed that, together with regulation and community owned power generation and distribution, consumer cooperation was the key to a fair power policy. In 1927 Olds advocated the operating of all hydropower
utilities as “giant consumer cooperatives”.
Olds’s cooperative beliefs had come in the place of his earlier radicalism. In 1930/’31 he served as the “manager” of the American lecture tour of the famed Irish poet and cooperative propagandist Æ
(George Russell
). AE’s charisma convinced Olds even further of the necessity to organize all of society along cooperative lines.
In 1936, Olds served on Roosevelt's Presidential Inquiry Commission on Cooperative Enterprise in Europe. Roosevelt appointed him to the Federal Power Commission
in June 1939, and he served as chairman of the commission from January, 1940 until 1949.
Under his leadership the Federal Power Commission successfully pressured electric utilities to extend power into neglected rural areas and to lower electricity rates in order to increase use.
His insistence on enforcing the Natural Gas Act of 1938 raised the ire of the Texas Oil industry and led to the end of his career at the Federal Power Commission. Robert Caro
's book Master of the Senate describes how Lyndon B. Johnson
defeated Old's re-appointment by orchestrating a smear campaign in the manner of McCarthyism
. This involved utilizing the staff of the House Un-American Activities Committee
to dig up old writings which were then taken out of context to falsely paint Olds as a communist
or communist sympathizer. The subcommittee in charge of reappointment was stacked against Olds and anti-Olds witnesses appearing before the committee were coached by Johnson.
Olds came from a traditional Anglo-Saxon
English people
The English are a nation and ethnic group native to England, who speak English. The English identity is of early mediaeval origin, when they were known in Old English as the Anglecynn. England is now a country of the United Kingdom, and the majority of English people in England are British Citizens...
protestant background. As the son of the president of Amherst College
Amherst College
Amherst College is a private liberal arts college located in Amherst, Massachusetts, United States. Amherst is an exclusively undergraduate four-year institution and enrolled 1,744 students in the fall of 2009...
, Olds had been a brilliant mathematics student at Amherst. At Amherst he fell under the spell of the social work movement and the Social Gospel
Social Gospel
The Social Gospel movement is a Protestant Christian intellectual movement that was most prominent in the early 20th century United States and Canada...
.
“Jolly, witty, informal” as well as “very fair-minded” and an accomplished cellist, Olds had been a minister, a teacher at Amherst, a researcher both for the federal government and the American Federation of Labor
American Federation of Labor
The American Federation of Labor was one of the first federations of labor unions in the United States. It was founded in 1886 by an alliance of craft unions disaffected from the Knights of Labor, a national labor association. Samuel Gompers was elected president of the Federation at its...
and a labor journalist before he met Franklin D. Roosevelt
Franklin D. Roosevelt
Franklin Delano Roosevelt , also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war...
. As governor of New York, Roosevelt appointed him to the New York State Power Authority. Olds believed in the “complete passing of the old order of capitalism”. A complete transformation of the American economic system was needed, which had to depart from its laissez-faire impetus and economic individualism
Individualism
Individualism is the moral stance, political philosophy, ideology, or social outlook that stresses "the moral worth of the individual". Individualists promote the exercise of one's goals and desires and so value independence and self-reliance while opposing most external interference upon one's own...
. As an alternative, Olds favored consumer cooperation as the basis of a new American economic model. Complementary to his cooperative beliefs, Olds was “very much consumer
Consumer
Consumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...
oriented”.
Olds was a deeply religious and idealistic man, who after a long search for a worthy cause to give purpose to his life, had completely dedicated himself to the public power fight. Wide availability of cheap power was crucial, Olds felt, for the social well being of the mass of the American people.
Olds believed that, together with regulation and community owned power generation and distribution, consumer cooperation was the key to a fair power policy. In 1927 Olds advocated the operating of all hydropower
Hydropower
Hydropower, hydraulic power, hydrokinetic power or water power is power that is derived from the force or energy of falling water, which may be harnessed for useful purposes. Since ancient times, hydropower has been used for irrigation and the operation of various mechanical devices, such as...
utilities as “giant consumer cooperatives”.
Olds’s cooperative beliefs had come in the place of his earlier radicalism. In 1930/’31 he served as the “manager” of the American lecture tour of the famed Irish poet and cooperative propagandist Æ
Æ
Æ is a grapheme formed from the letters a and e. Originally a ligature representing a Latin diphthong, it has been promoted to the full status of a letter in the alphabets of some languages, including Danish, Faroese, Norwegian and Icelandic...
(George Russell
George William Russell
George William Russell who wrote under the pseudonym Æ , was an Irish nationalist, writer, editor, critic, poet, and painter. He was also a mystical writer, and centre of a group of followers of theosophy in Dublin, for many years.-Organisor:Russell was born in Lurgan, County Armagh...
). AE’s charisma convinced Olds even further of the necessity to organize all of society along cooperative lines.
In 1936, Olds served on Roosevelt's Presidential Inquiry Commission on Cooperative Enterprise in Europe. Roosevelt appointed him to the Federal Power Commission
Federal Power Commission
The Federal Power Commission was an independent commission of the United States government, originally organized on June 23, 1930, with five members nominated by the president and confirmed by the Senate...
in June 1939, and he served as chairman of the commission from January, 1940 until 1949.
Under his leadership the Federal Power Commission successfully pressured electric utilities to extend power into neglected rural areas and to lower electricity rates in order to increase use.
His insistence on enforcing the Natural Gas Act of 1938 raised the ire of the Texas Oil industry and led to the end of his career at the Federal Power Commission. Robert Caro
Robert Caro
Robert Allan Caro is an American journalist and author known for his celebrated biographies of United States political figures Robert Moses and Lyndon B. Johnson...
's book Master of the Senate describes how Lyndon B. Johnson
Lyndon B. Johnson
Lyndon Baines Johnson , often referred to as LBJ, was the 36th President of the United States after his service as the 37th Vice President of the United States...
defeated Old's re-appointment by orchestrating a smear campaign in the manner of McCarthyism
McCarthyism
McCarthyism is the practice of making accusations of disloyalty, subversion, or treason without proper regard for evidence. The term has its origins in the period in the United States known as the Second Red Scare, lasting roughly from the late 1940s to the late 1950s and characterized by...
. This involved utilizing the staff of the House Un-American Activities Committee
House Un-American Activities Committee
The House Committee on Un-American Activities or House Un-American Activities Committee was an investigative committee of the United States House of Representatives. In 1969, the House changed the committee's name to "House Committee on Internal Security"...
to dig up old writings which were then taken out of context to falsely paint Olds as a communist
Communism
Communism is a social, political and economic ideology that aims at the establishment of a classless, moneyless, revolutionary and stateless socialist society structured upon common ownership of the means of production...
or communist sympathizer. The subcommittee in charge of reappointment was stacked against Olds and anti-Olds witnesses appearing before the committee were coached by Johnson.