[5] Fetter was on track to graduate with the class of 1883, but left college to run his family's bookstore upon news of his father's declining health.

[6] After earning his doctoral degree, Fetter accepted an instructorship at Cornell, but quickly left after being offered a position as a professor at Indiana University.

[4] In 1911, he again found himself in professional transition, accepting the position of chairman in an interdisciplinary department at Princeton University which incorporated history, politics, and economics.

Hayek, Fetter referred to himself, Thorstein Veblen, and Herbert J. Davenport more specifically as being members of the "American Psychological School.

"[8] Fetter was a staunch opponent of Franklin D. Roosevelt's plan to end the gold standard and worked with other economists in lobbying against the move to a fiat currency.

As some indication of Fetter's role in these efforts, In January 1933, a letter was sent to the president-elect, urging him not only to lower tariff barriers to revive international trade, but to maintain the gold standard "unflinchingly."

[10] Fetter argued that such a distinction was impractical, stating that, The notion that it is a simple matter to distinguish between the yield of natural agents and that of improvements is fanciful and confusing....

The objective classification of land and capital as natural and artificial agents is a task that always must transcend the human power of discrimination.

"[6] Likewise, Herbener explains, this led Fetter to also conclude that "[t]he rental price of each producer good is imputed to it by entrepreneurial demand and is equal to its discounted marginal value product.

I was struck by the brilliance and consistency of his integrated theory of distribution and by the neglect of Fetter in current histories of economic thought, even by those that are Austrian oriented.

He opened the tribute with the announcement that "with the death of Frank Albert Fetter the great company of American economists has suffered an irreparable loss.