EconLog guest blogger James Schneider properly laments that far too many public memorials and parks glorify politicians (and, I’d add, generals and admirals). Ditto for (especially U.S.) coins and currency. I, too, have noticed this sad fact. I’d rename and rededicate 99 percent of these memorials and parks to historical figures who were generally productive. Ditto for redoing coins and currency. Just off of the top of my head – meaning, I reserve the right to change my list in the future – here’s my proposed redoing of U.S. currency and coins; I limit my list here to Americans – a limit that I’m not sure is appropriate:
$1 bill: George Washington. For all of his flaws, Washington was not as mad for power as is the typical politician. That character trait was enormously beneficial to the early American republic.
$2 bill: Henry Ford, for being such a pioneering and innovative producer.
$5 bill: John D. Rockefeller, Sr., for being such a pioneering and innovative producer.
$10 bill: Gustavus Swift, for being such a pioneering and innovative producer.
$20 bill: Norman Borlaug, for saving countless millions of people from starvation.
$50 bill: Sam Walton, for being such a pioneering and innovative retailer.
$100 bill: Benjamin Franklin, for his scientific achievements and his bourgeois wisdom.
One-cent coin: Richard Sears, for being such a pioneering and innovative retailer.
Five-cent coin: Steve Jobs, for being such a pioneering and innovative producer.
ten-cent coin: John Bogle, for inventing the indexed mutual fund.
25-cent coin: Milton Friedman, for teaching not only the general public, but fellow economists, economics.
50-cent coin: Gail Borden, for being such a pioneering and innovative producer.
$1 coin: Andrew Mellon, a productive financial genius.
