Impact of the Great Depression on Modern

America#18

Mari Bourbon

Keynesian Economics

John Mayner Cains, London school of economics Challenged Say’s Law and Classical Economic theory Prior: If we could manufacture it there would be demand. Demand could vacillate up or down based on

natural market conditions After: After 1921 demand wasn’t responding upwards. Stayed. Keynesian: government spending and reducing taxes to stimulate consumption can offset the lack of

overall demand FDR: Idea for new deal Increase government spending: programs to build, create, hire and pay with government funds Problem: increasing government spending and reducing taxes creates deficit Initiating is good taking it away bad Keynesian keeps going deficit gets bigger Therefore Keynesian actions should only be done in the short run in times of recession or contraction Problem: as congressmen not popular to say reduce government spending and raise taxes

22nd Amendment

• O- Congress passed the amendment on March 21, 1947. It was ratified by the requisite number of states on February 27, 1951.

• P- To limit the term of presidency to only two terms, after FDR served 4 terms

• V- To allow change within the leadership and control of the country in case one becomes corrupt and wants a dictatorship

• L- Some presidents might need more than 8 years to fulfill their goals

Eleanor Roosevelt

1884-1962 Her father was the younger brother of

President Theodore Roosevelt Educated by private tutors until she was

15 Then attended a distinguished girl’s

school in England At 18 she returned to New York and lived

with her cousins In 1903 she became engaged to her fifth

cousin Franklin Roosevelt

Eleanor Roosevelt

Married Franklin in 1905 Before becoming president Franklin

suffered partial paralysis from polio and had an affair

These both motivated Eleanor to be independent and want to speak out

Franklin was elected Governor of New York and Eleanor gave speeches and made public appearances regularly

March 4, 1933 – April 12, 1945

Said to have shaped the role of the First Lady

Respected but very controversial First spouse to hold press conferences Stood up for issues regarding

unemployment, women’s rights, and civil rights

Even after Franklin died, Eleanor remained active in politics

Impact on Women’s Rights

International Congress of Working Women

Women's International League of Peace and Freedom

League of Women Voters in 1920 Woman's Trade Union League in

1922 Women's Division of the New York

Democratic Party in 1923.

In 1924, the Democratic National Committee asked her to chair its platform committee on women's issues.

By 1928, she organized one of the most successful get- out-the-vote campaigns in state history and also called for women political bosses.

By 1936, Eleanor Roosevelt and Molly Dewson's organizing and internal lobbying produced 219 women delegates and 302 women alternates

Impact on Women’s Rights

In her first year as First Lady, Eleanor worked hard to keep women involved in establishing and evaluating the New Deal.

Held press conferences (covered by women reporters only) to keep information before women voters and to urge that women speak their minds on politics, policy, and their individual hopes and dreams.

When she left the White House, she continued to press Truman and Kennedy to appoint more women and to address women's issues with more concern and diligence.

Support of Working Women

Worked to oppose child labor Limit the number of hours an employer

could force a woman to work Remedy the unsafe and exploitative

conditions of many women-dominated workplaces.

Women's full inclusion in unions, the living wage, birth control, and the right to strike and bargain collectively.

Defended women workers at her press conferences, in articles and speeches, and on the radio.

Encouraged volunteer for civil defense assignments, women to enter the military, and defended those women in military service who wanted to do more than type, file, and clean.

Lent her support to legislation establishing on-site day care for defense workers.

Impact Today

Woman President Role of First Lady Roles of Women in Congress, Supreme

Court, School Administration, etc. Right to vote

Changes in Minorities

The New Deal (1933-1943) Economic Recovery Job Creation Investment in Public Works Civic Uplift

Civil Rights Movement (1950’s- Present)

African Americans

Black workers being pushed out in favor of White workers or just plain being the first to be fired.

Ghettos turned into slums as funding stopped coming into inner city Black communities. Harlem, a thriving cultural center in the twenties, was decimated.

Federal Housing Agency stopped black from moving into white neighborhoods and some public works projects refused to hire blacks.

AAA pushed African Americans off their farms. Social Security left out blacks

African Americans

1947, Jackie Robinson 1948, WWI Black Soldiers Brown vs. Board of Education 1956, Rosa Parks 1961, Freedom Riders First Black Student to enroll 1963, MLK President Johnson signs CRA 1965, Voting Rights Act Loving vs. Virginia 1968, Assassination of MLK

1968, CRA 1972, Tuskegee Syphilis Experiment 1992, Rodney King 2008, Senator Barack Obama

Liberal vs. Conservatism 1960-1968

Liberal Expanded role of government Wanted Vietnam to be a limited war Racial Justice national priority Protected environment Found women’s rights important Thought that US should end domestic

poverty Youth culture tolerated and celebrataed

Conservatism Government should be limited in society Total military victory in Vietnam States handle racial Wanted to restore “law and order” in

cities Upheld sexual/gender roles Defended traditional family values Youth culture looked down upon

Liberalism vs. Conservatism 1940-1960

Liberal Government should regulate economy Government respect for PEOPLES welfare Deficit spending US accepts international role Communism a challenge; both home and

abroad Support organized labor Embraced federal support of racial justice

and equality Encouraged flexible military response

Conservatism Government should be limited in society Promoted INDIVIDUAL respect for welfare Wanted balanced budget Communism huge domestic threat Limited overseas involvement but contined

communism Reconsidered the New Deal States should handle their racial issues Encouraged “massive retaliation” as viable

component of military response

Liberalism vs. Conservatism 1968-1975

Liberal Withdraw from Vietnam Richard Nixon/Watergate a threat to

liberty Nixon should be impeached Great Society must be maintained Minorities gains’ should expand with

affirmative action

Conservative Wanted limited government in society Peace only with honor in Vietnam Believed Nixon was no more corrupt than

earlier presidents Maintain traditional family and gender roles Repealed much of Great Society No special for minorities to achieve

equality Legal equality enough

Liberalism vs. Conservatism 1975-1985

Liberal Maintain Great Society Insist on human rights Avoid future situations like Vietnam Promoted affirmative action Supported conservation of energy Supported Roe vs. Wade

Conservatism Wanted limited government in society Increased defense spending Acted aggressively overseas Limited federal role in civil rights Maintain family values Stressed finding sources of oil Anti

abortion

Liberal vs. Conservatism Present

Liberal Pro -Choice Anti-Gun Open to

different religions

Gay rights and same sex marriage

Social Safety nets are important

Support Government

Conservatism Anti-Abortion Pro-Gun Catholic/

Christian Anti gay Anti Welfare Government

shouldn’t have such a large role

Income Inequality

“This suggests that the Great Recession will only depress top income shares temporarily and will not undo any of the dramatic increase in top income shares that has taken place since the 1970s. Indeed, excluding realized capital gains, the top decile share in 2010 is equal to 46.3%, higher than in 2007...”

Analogies

Great Depression 1900 October 1929- End of 1930s Stock market crash, banks closed,

millions of job loss, Farmers, 10 months

Great Depression 2008 December 2007- June 2009 Bursting of an 8 trillion dollar housing

bubble, sharp cutbacks in consumer spending, collapse in business investment, job loss

US lost 8.a million jobs and 6.1% of all payroll employment

2-4 years

Bibliography

"Conservative vs. Liberal Beliefs." StudentNewsDaily.com. N.p., 2005. Web. 27 Feb. 2014.

"Eleanor Roosevelt and the Women's Movement." Gwu.edu. N.p., n.d. Web. 27 Feb. 2014.

"Living New Deal." Berkeley.edu. N.p., n.d. Web. 27 Feb. 2014.

"Minorities and the New Deal." Socialstudieshelp.com. N.p., n.d. Web. 26 Feb. 2014.