Full transcript
0:02So,
0:03when FDR won the election in 1932, he
0:07inherited the Great Depression as the
0:09number one problem
0:11that Americans needed fixed at the time.
0:15Uh the Depression didn't come out of
0:17nowhere, and people weren't as surprised
0:20about it as a lot of people like to say
0:23these days, right? Uh the 1920s had seen
0:26a tremendous economic boom, uh where a
0:30lot of new things like cars and
0:34electronic goods had been sold, and so
0:38new things getting made meant that there
0:41were new purchases being made. So, a lot
0:44of the the economic boom of the '20s was
0:46based on
0:48creating more spenders, right? An
0:50expansion of spending in the American
0:52economy. It was a consumer economy.
0:55But, that boom was already showing some
1:00weaknesses by the mid-1920s. So, the
1:03ability to create new spenders of money
1:07uh was already slowing down by 1925.
1:10There were slowdowns in real estate, uh
1:13slowdowns in construction, and slowdowns
1:16in automobile sales between 1925 and
1:191927. These These three things were the
1:22most important parts of the American
1:23economy at the time, and those slowdowns
1:26pretty well got got ignored. Or if
1:30anybody pointed them out, they got
1:31shouted down because Americans wanted to
1:34believe that the economy was just going
1:37to keep getting better and better
1:39and creating more opportunities for
1:41people who were finishing school and
1:44starting their working lives.
1:46What ultimately undercut a lot of
1:50people's faith
1:52in this continued expansion of of new
1:55spending opportunities was the stock
1:58market crash of 1929.
2:00Right, the stock market crash didn't
2:03actually directly kill the economy, but
2:07what it did was create a lot of concern.
2:10A lot of people said after 1929
2:14that the economy simply couldn't keep
2:16growing. And they worried if it couldn't
2:19keep growing, would it create
2:21opportunity for people to be successful?
2:24The the immediate reaction a lot of
2:25people had was was
2:28basically cautiousness.
2:30A lot of people who had money quit
2:32spending money. They began holding on to
2:34it.
2:35And so when they spent less money,
2:38it caused major industries to begin
2:42cutting down on production, which meant
2:46cuts in hours, cuts in employment,
2:49layoffs.
2:50Um these things tended to create a lot
2:53of concern among Americans. It looked
2:56like, you know, what they were worried
2:58about, the loss of opportunity to make
3:00money was actually happening.
3:03People panicked and began pulling all of
3:06their money out of American banks. They
3:09began taking all their life savings out
3:11and getting it in cash cuz they could
3:13hold on to it. And these bank runs
3:15crippled the banks' ability to help the
3:18economy function as it could. And that
3:20created a cycle downward where like more
3:23layoffs led to more fear, which led to
3:26stricter spending. And so the economy
3:29just sort of cycled downwards and
3:31downwards for like 3 years. So between
3:331929 and 1932,
3:36the Great Depression emerged. Like 32
3:39was the absolute low point. By the time
3:42you get to 1932,
3:44the gross national product of the United
3:46States had decreased by by 50%.
3:51So the opportunity to make money had
3:53dropped by 50%
3:55in the United States.
3:58The president of the time, Herbert
4:00Hoover,
4:01reacted slowly and cautiously. He He
4:04didn't want to break from traditional
4:06economic thought,
4:08which said,
4:10"Depressions happen every once in a
4:13while because the economy is cyclical,
4:16and it's not the government's job to get
4:18involved in this situation, not to
4:21directly intervene and help the economy
4:23up because to some extent economic
4:25downturns are good. They They make
4:27people behave with their money. They
4:29encourage people to save money in the
4:31future. Uh they they encourage business
4:35leaders to be smart about what they're
4:37paying people and who they're hiring.
4:39So, if you lose money during the
4:42depression, it's probably because you
4:44deserve to lose money. So, the the the
4:47answer then is just to sort of ride it
4:49out. Then, eventually you'll hit the
4:51bottom,
4:52uh and Hoover hoped that bottom would
4:54come within a couple of months or a
4:56year,
4:57uh and that it would cycle back up. And
4:59when the economy cycled back up and more
5:01money appeared and more jobs appeared,
5:03things would sort out for the best."
5:06Problem, of course, is that that
5:07downward cycle didn't just take a couple
5:09of months. It took 3 years by the time
5:14the economy got to the bottom, it had
5:16created an insurmountable hole
5:19in unemployment for people to dig
5:23themselves out of.
5:24Uh American unemployment in 1932 reached
5:29a historic high of 25%.
5:31That's That's among grown men. That
5:34doesn't include women who were working,
5:37um and it doesn't include kids who work,
5:40which is pretty common, particularly in
5:41the working classes during these years.
5:44So, 25%, which is the historically
5:46highest unemployment rate,
5:48probably doesn't tell us exactly how bad
5:51things were. Things were probably even
5:53worse than what that number tells us.
5:57In terms of unemployment,
5:59the rates of unemployment were highest
6:03among young working class men, so young
6:06men between about 18 and 25, and also
6:10men of color. So, people who were black,
6:13people who are Hispanic, tended to
6:15suffer higher unemployment than their
6:18white counterparts of the same age.
6:22There are some estimates that suggest
6:25that about 1/3 of the 14 million total
6:30people who were unemployed during 1932
6:34were under the age of 25.
6:38So, this wasn't just about losing jobs.
6:42This was about making it impossible for
6:45young people to start their adult lives,
6:48particularly working class people,
6:51particularly people of color, making it
6:53possible for people who needed to gain
6:56the most,
6:58making it impossible for them to do so
7:00because they're disproportionately
7:02feeling the effects of the depression.
7:06One thing that began to emerge
7:10of this about this, a sort of cultural
7:12shift that happens because of this high
7:14unemployment among younger people,
7:17was that failure was it something that
7:20was deserved anymore? I mean, Americans
7:22had had economic downturns before.
7:25Poverty did exist in the United States
7:27before the Great Depression.
7:30But, typically, if somebody was poor or
7:33unemployed,
7:35the belief was that was an individual
7:37failing. That person was poor because
7:39they were lazy.
7:40That person was poor because they drank
7:44too much. Right? There was something
7:46they had done. It was their personal
7:48fault for being unemployed and not being
7:51able to succeed and thus not being able
7:52to gain respect from other Americans.
7:56What the depression taught a lot of
7:57people was was that just wasn't true.
8:00That there are a lot of people who did
8:02things the way they're supposed to do,
8:04who worked as hard as they could,
8:06and they still couldn't get a job. So,
8:08failure
8:10wasn't just limited to people who
8:12deserved it. Sometimes people who
8:14deserved succeed couldn't succeed. And
8:17that's what raised this bigger
8:19fear among Americans. Americans were
8:22worried that America maybe wasn't a
8:25meritocracy anymore. That the depression
8:28had killed that.
8:29That maybe you could work hard and
8:31deserve to succeed and not succeed.
8:35This
8:37raised fears about the future of
8:39America. Remember, disproportionately
8:41the people are unemployed are under the
8:43age of 25.
8:45So, if you're in that group of people,
8:48what people are saying about you is if
8:50these people can't find jobs, which is
8:53the way people become adults, it's the
8:56way people learn responsibility, it's
8:58the way in American economy up to this
9:00point that people demonstrated their
9:02value and worth to society,
9:05if these people
9:07can't get jobs, how are they going to
9:09learn to be men?
9:11If you can't work, how do you show that
9:13you're a man?
9:14Will these young men
9:17will they reject the American dream?
9:20Will they see America as a broken place
9:22that can't provide them with
9:23opportunity? Will they embrace
9:25dangerous outsider ideas because of
9:27this?
9:29Will it even matter, a lot of Americans
9:31asked, if the economy recovers in a
9:33couple of years and the next generation
9:35of Americans doesn't believe the US can
9:37reward them for playing by the rules.
9:40There are plenty people who had money.
9:42The rich had money.
9:43Right? There were plenty of people who
9:45were criminals that had money.
9:46So,
9:48what's it matter if the economy gets
9:50better, if we create more jobs,
9:53if young people learn
9:56it's more important to be rich, or it's
9:58more important to be a criminal, than it
10:00is to do things the right way.
10:02So,
10:04what the depression did was really cause
10:07a lot of fears about whether or not
10:09meritocracy actually existed in the
10:11United States, and that's what the CCC
10:13was supposed to do. It was supposed to
10:15convince people meritocracy still
10:17mattered.
10:18I'm arguing today that the Civilian
10:20Conservation Corps was established to
10:22secure the next generation's faith in
10:25the government's ability to take on new
10:28roles by guiding American economy so
10:30that it could provide opportunity in the
10:32future.
10:34It wanted to reassure them, the CCC,
10:37that life could get better.
10:39So, FDR and the Democrats hoped that
10:43this government programming would
10:44demonstrate
10:45that their party's efforts
10:48to create a opportunity to succeed in
10:52life
10:53would not only save this generation of
10:56Americans and make them good Americans
10:58in the future, but also, importantly,
11:01create a new generation of Democratic
11:03voters and supporters supporters for
11:05Democratic policies in the 1930s, '40s,
11:08and moving forward. And as you'll see by
11:11the end of the lecture, I'm going to
11:12argue that there were sort of mixed
11:14results in that chance in that
11:16opportunity.