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Banks are among the oldest businesses in American history—the Bank of New York, for example, was founded in 1784, and as the recently renamed Bank of New York Mellon it had its 225th anniversary in 2009. The banking system is one of...
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Women and the Great Depression
In 1933 Eleanor Roosevelt’s It’s Up to the Women exhorted American women to help pull the country through its current economic crisis, the gravest it had ever faced: "The women know that life must go on and that the needs of life must...
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Economic Policy through the Lens of History
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be...
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Motor City: The Story of Detroit
"You can see here, as it is impossible to do in a more varied and complex city, the whole structure of an industrial society." So wrote essayist Edmund Wilson, reporting on a visit to the Motor City in the 1930s. As the capital of...
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The Hundred Days and Beyond: What Did the New Deal Accomplish?
There wasn’t anybody in that entire Brains Trust apparently that had given any thought—they had absolutely no plans—or any real study to the problem created by this banking situation. —Walter Wyatt, Federal Reserve official, amazed at...
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Are Artists “Workers”? Art and the New Deal
As I write this essay in February 2009, the nation is engaged in a great discussion about how to restore confidence during the worst economic downturn since the Great Depression. One contentious issue is whether and how cultural...
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The WPA: Antidote to the Great Depression?
When President Franklin D. Roosevelt took office in March 1933, estimates of the number of jobless workers in the United States ranged from thirteen million to as high as fifteen million—a quarter of the working population. Every...
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F. Scott Fitzgerald and the Age of Excess
F. Scott Fitzgerald and his wife, Zelda, were guilty of many things. They were impetuous, they were known to drink too much, and they were prone to bouts of serious depression and self-destructive behavior, but no one could ever...
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Labor Day: From Protest to Picnics
In the 1880s a surge in growth of the American labor movement led to the creation of two workers’ holidays, Labor Day and May Day. May Day soon spread abroad, as European unions and socialist groups adopted it as an occasion to...
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Every Citizen a Soldier: World War II Posters on the American Home Front
World War II posters helped to mobilize a nation. Inexpensive, accessible, and ever-present, the poster was an ideal agent for making victory the personal mission of every citizen. Government agencies, businesses, and private...
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