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Impact of the Great Depression on Modern America #18

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

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Impact of the Great Depression on Modern America #18

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  1. Impact of the Great Depression on Modern America#18 Mari Bourbon

  2. Keynesian Economics • John MaynerCains, 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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.

  8. 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.

  9. Impact Today • Woman President • Role of First Lady • Roles of Women in Congress, Supreme Court, School Administration, etc. • Right to vote

  10. Changes in Minorities • The New Deal (1933-1943) • Economic Recovery • Job Creation • Investment in Public Works • Civic Uplift • Civil Rights Movement (1950’s- Present)

  11. 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

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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...”

  19. 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

  20. 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.

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