After the passage of several pieces of emergency legislation in the spring of 1933 to save the banks, plantation owners in the South, and corn-hog farmers in the Midwest, Roosevelt was inclined to end the special session of Congress he had called to deal with the dire emergencies the country was facing. He thought that the new legislation, which concerned the problems of agriculture and finance, for the most part, dealt with the most pressing problems facing the nation, and did not want to press his luck. However, he had been alerted through memos from members of his Brain Trust that corporate leaders were working on plans for industrial reorganization that would free them from the constraints of the anti-trust laws, thereby making more cooperation (i.e., price setting) among them possible. In addition, he also had received memos and personal White House visits from representatives of the NAM and the U.S. Chamber of Commerce, which urged the corporate plans upon him. But Roosevelt was not convinced that any of these plans had jelled sufficiently or were politically feasible (Himmelberg 1976/1993, Chapter 10).
Even with the Railway Labor Act and the Norris-LaGuardia Act on the law books, it did not seem likely that the weakened union movement would have any power to influence the New Deal. However, the AFL did have institutional legitimacy and a heritage of over 45 years of labor organizing. Most of all, workers had the right to vote and the potential to disrupt production and destroy plants and equipment. The dynamiting of the Building in 1911, the Ludlow Massacre in 1914, the deadly strikes at Standard Oil of New Jersey in 1915 and 1916, the disruptive efforts of railroad workers during World War I, and the massive U.S. Steel strike in 1919 were only the most recent reminders of these disruptive capabilities.
was in a state of depression when Roosevelt took office, but through his New Deal program, the federal government became much more involved socially and economically in peoples' lives in contrast to its traditionally passive role.
With the Smoot-Hawley Tariff in place, deflation, everything imaginable bought on credit, and unreliable loans, everything adding up eventually led to the stock market crashing and the Great Depression....
Thus, the process and content of collective bargaining is actually a complicated power relationship that embodies the strengths and weaknesses of both sides. Its existence reveals the power of labor, but the narrowness of the unions and the substance of what is bargained about reflect the power of capital. Collective bargaining is "both a result of labor's power as well as a vehicle to control workers' struggles and channel them in a path compatible with capitalist development" (Ramirez 1978, p. 215). Drawing on Kimeldorf's (2013) new formulation concerning the importance of replacement costs in union success in that era, Ramirez's point can be generalized to say that unionization is possible when workers can exercise a disruptive potential that threatens profits. That is, the unions that were organized in the late ninetieth and early twentieth centuries had a high disruptive capacity that was rooted in the difficulty (and thus high costs) of finding replacement workers in the face of strikes. Sometimes these replacement costs were due to skill barriers, as in the case of the typographers and construction workers mentioned earlier, but replacement costs could also be high for companies that had fast turn-around times or had geographically isolated work sites that scared away potential replacement workers.
“For those born after the 1930’s, the Great Depression is something that can be visualized only through photography and film (This Great Nation Will Endure)” and when asked “What picture do you think of when you hear the words the Great Depression Era?” all t...
Fascinating story about France’s role in causing the Great Depression. Even more fascinating is the remarkable similarity I found with today’s currency war. The Dollar being today’s reserve currency (as opposed to gold then), China is playing the identical role in today’s currency war as France played then: by steadily accumulating Dollars and refusing to re-invest them in the Chinese home market, and thereby sucking away Dollars from the rest of the world. The more the FED prints them, the more China accumulates.
Is that not one of the causes why despite all the FED’s Quantitative Easing no inflation has occurred so far ?
In FDR’s Folly, Powell spotlights the presidency of Franklin Delano Roosevelt, astronomical levels of unemployment, as well as the New Deal program developed to combat the Great Depression.
Before The Great Depression hit, our countries banking system was characterized by having numerous small to medium sized firms, which meant they were prone to going bankrupt.
Nor did the NCF hesitate to seek the advice of experts, including some who were considered reformers or even liberals, which is another reason for thinking that the corporate moderates were somewhat different than the ultraconservatives. The most famous of these reform-oriented experts was an atypical economist, John R. Commons, who had been part of many reform efforts in the previous decade. Commons became a researcher and strike mediator for the NCF while managing its New York office from 1902 to 1904. He adopted the NCF emphasis on collective bargaining and championed the concept ever afterwards. When he left for a position at the University of Wisconsin, where he trained several of the economists who later worked for the New Deal in the 1930s, half of his salary was paid by moderate conservatives in the NCF that admired his efforts. Commons later claimed that his years with the NCF were among the "five big years" of his life (Commons 1934, p. 133).
In his words, FDR’s presidency did not aid the economic state but drove it further back as well as his inability to solve of any of the problems within The Great Depression....
The current Republican President, Herbert Clark Hoover was not seen to be doing enough so he was succeeded By President Franklin Delano Roosevelt' (FDR) , who would end the depression with his 'New Deal'.
Although the Great Depression took a huge toll on many other industries, the film industry still managed to make large profits compared to other businesses.