Riefler is credited with inventing the modern amortized home mortgage.[5] This new mortgage type was designed to be more stable than the balloon mortgages common during the 1920s, which had led to the National Mortgage Crisis of the 1930s.
His Riefler-Burgess framework stood in opposition to the real bills doctrine as a guiding philosophy of U.S. monetary policy in the early 1930s.[6]
During World War II he was an active participant in the activities of the League of Nations and served as a minister for economic warfare in London.[1]
In a 1947 article in Foreign Affairs, "Our Economic Contribution to War", Riefler described the intersection between civilian and military components of an industrial economy. Thus, using the phrase "military-industrial complex" before it was used by (and ascribed to) President Eisenhower in 1961.
References
^ abc"Winfield W. Riefler, 1897-1974." 'The American Statesman', vol 28, no. 4, 1974.
^Fritz, M. (2007). Federal Housing Administration (FHA). In G. Anderson, & K. Herr (Eds.), Encyclopedia of Activism and Social Justice. (pp. 552-555). Thousand Oaks, CA: SAGE Publications, Inc. [1]
