Unemployment Depression Quotes

The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.

Those who fail to exhibit positive attitudes, no matter the external reality, are seen as maladjusted and in need of assistance. Their attitudes need correction. Once we adopt an upbeat vision of reality, positive things will happen. This belief encourages us to flee from reality when reality does not elicit positive feelings. These specialists in "happiness" have formulated something they call the "Law of Attraction." It argues that we attract those things in life, whether it is money, relationships or employment, which we focus on. Suddenly, abused and battered wives or children, the unemployed, the depressed and mentally ill, the illiterate, the lonely, those grieving for lost loved ones, those crushed by poverty, the terminally ill, those fighting with addictions, those suffering from trauma, those trapped in menial and poorly paid jobs, those whose homes are in foreclosure or who are filing for bankruptcy because they cannot pay their medical bills, are to blame for their negativity. The ideology justifies the cruelty of unfettered capitalism, shifting the blame from the power elite to those they oppress. And many of us have internalized this pernicious message, which in times of difficulty leads to personal despair, passivity and disillusionment.

But the economic meltdown should have undone, once and for all, the idea of poverty as a personal shortcoming or dysfunctional state of mind. The lines at unemployment offices and churches offering free food includes strivers as well as slackers, habitual optimists as well as the chronically depressed. When and if the economy recovers we can never allow ourselves to forget how widespread our vulnerability is, how easy it is to spiral down toward destitution.

The whole program of unemployment insurance, Social Security, was a confession of the failure of our whole social order. And confession of failure of Christian principles: that man, in fact, did not look after his brother.

Depression is not caused by a chemical imbalance in the brain, and it is not cured by medication. Depression may not even be an illness at all. Often, it can be a normal reaction to abnormal situations. Poverty, unemployment, and the loss of loved ones can make people depressed, and these social and situational causes of depression cannot be changed by drugs.

THERE IS NOTHING more pathetically optimistic than the morning erection. I am depressed, unemployed, unloved, basement-dwelling, and bereaved, but there it is, every morning like clockwork, rising up to greet the day, poking out of my fly cocksure and conspicuously useless. And every morning, I face the same choice: masturbate or urinate. It’s the one time of the day where I feel like I have options.

Since at least the Great Depression, we’ve been hearing warnings that automation was or was about to be throwing millions out of work—Keynes at the time coined the term “technological unemployment,” and many assumed the mass unemployment of the 1930s was just a sign of things to come—and while this might make it seem such claims have always been somewhat alarmist, what this book suggests is that the opposite was the case. They were entirely accurate. Automation did, in fact, lead to mass unemployment. We have simply stopped the gap by adding dummy jobs that are effectively made up. A combination of political pressure from both right and left, a deeply held popular feeling that paid employment alone can make one a full moral person, and finally, a fear on the part of the upper classes, already noted by George Orwell in 1933, of what the laboring masses might get up to if they had too much leisure on their hands, has ensured that whatever the underlying reality, when it comes to official unemployment figures in wealthy countries, the needle should never jump too far from the range of 3 to 8 percent. But if one eliminates bullshit jobs from the picture, and the real jobs that only exist to support them, one could say that the catastrophe predicted in the 1930s really did happen. Upward of 50 percent to 60 percent of the population has, in fact, been thrown out of work.

The escalator doesn’t work, and you’d think they’d still be used as stairs, but in this economic depression, even the stairs are unemployed.

Don’t forget: Ruts aren’t that much different . . . from graves.

Imagine a nonpatriarchal culture where counseling was available to all men to help them find the work that they are best suited to, that they can do with joy. Imagine work settings that offer timeouts where workers can take classes in relational recovery, where they might fellowship with other workers and build a community of solidarity that, at least if it could not change the arduous, depressing nature of labor itself, could make the workplace more bearable. Imagine a world where men who are unemployed for any reason could learn the way to self-actualization.

Not only are poor, unemployed, less will-educated and non-white people more likely to become depressed, but they are also least likely to benefit from treatment by either antidepressants or psychotherapy. That is why combating depression requires more than merely providing effective treatment for those who are already suffering from it. We also need the change the social conditions - such a racism, unemployment, poverty, unaffordable housing, and lack of adequate education - that put people at increased risk of becoming depressed.

Don't ever, ever check Facebook when you're: A. Depressed. B. Drinking. C. Depressed and drinking. D. Unemployed. E. Struggling with being blessed with singleness while some of your friends seem to be blessed with a Brad Pitt lookalike and that blazing white picket fence shining with the glory of the American Dream on steroids. OR -- F. Anytime after 9:12pm.

In it he argued that unrestrained capitalism produced great disparities of wealth, cycles of boom and depression, and festering levels of unemployment. The system encouraged selfishness instead of cooperation, and acquiring wealth rather than serving others. People were educated for careers rather than for a love of work and creativity. And political parties became corrupted by political contributions from owners of great capital.

What are the things that make adults depressed? The master list is too comprehensive to quantify (plane crashes, unemployment, killer bees, impotence, Stringer Bell's murder, gambling addictions, crib death, the music of Bon Iver, et al.) But whenever people talk about their personal bouts of depression in the abstract, there are two obstructions I hear more than any other. The possibility that one's life is not important, and the mundane predictability of day-to-day existence. Talk to a depressed person (particularly one who's nearing midlife), and one (or both) of these problems will inevitably be described. Since the end of World War II, every generation of American children has been endlessly conditioned to believe that their lives are supposed to be great -- a meaningful life is not just possible, but required. Part of the reason forward-thinking media networks like Twitter succeed is because people want to believe that every immaterial thing they do is pertinent by default; it's interesting because it happened to them, which translates as interesting to all. At the same time, we concede that a compelling life is supposed to be spontaneous and unpredictable-- any artistic depiction of someone who does the same thing every day portrays that character as tragically imprisoned (January Jones on Mad Men, Ron Livingston in Office Space, the lyrics to "Eleanor Rigby," all novels set in affluent suburbs, pretty much every project Sam Mendes has ever conceived, etc.) If you know exactly what's going to happen tomorrow, the voltage of that experience is immediately mitigated. Yet most lives are the same, 95 percent of the time. And most lives aren't extrinsically meaningful, unless you're delusionally self-absorbed or authentically Born Again. So here's where we find the creeping melancholy of modernity: The one thing all people are supposed to inherently deserve- a daily subsistence that's both meaningful and unpredictable-- tends to be an incredibly rare commodity. If it's not already there, we cannot manufacture it.

My writing routine is this: 1) Have a job. I can't do shit if I don't know where the rent is coming from--I tried the thing where you just declare yourself a writer and live on unemployment/savings/the kindness of strangers but that resulted in clinical depression. (interview with Amy Guth, Bigmouth Indeed Strikes Again)

Production is carried on for profit, not for use. There is no provision that all those able and willing to work will always be in a position to find employment; an “army of unemployed” almost always exists. The worker is constantly in fear of losing his job. Since unemployed and poorly paid workers do not provide a profitable market, the production of consumers’ goods is restricted, and great hardship is the consequence. Technological progress frequently results in more unemployment rather than in an easing of the burden of work for all. The profit motive, in conjunction with competition among capitalists, is responsible for an instability in the accumulation and utilization of capital which leads to increasingly severe depressions. Unlimited competition leads to a huge waste of labor, and to that crippling of the social consciousness of individuals which I mentioned before.

Don"t gaze too hard at your belly button Or you will unexpectedly hit rock bottom!

When we're unemployed, we're called lazy; when the whites are unemployed it's called a depression.

When you have mass unemployment in the Negro community, it’s called a social problem; when you have mass unemployment in the white community, it’s called a depression.

Strung himself up from the rafters in the barn,” she went on as we worked. “Was being treated for a drink problem and depression. More of the same. Unemployment, women, drugs. They

Good reputation is a lifeboat in the flood of life crisis.

Three years ago, I began writing this novel about hard times in America: the worst environmental disaster in our history; the collapse of the economy; the effect of massive unemployment. Never in my wildest dreams did I imagine that the Great Depression would become so relevant in our modern lives, that I would see so many people out of work, in need, frightened for the future.

The individualist insists that drastic depressions are the result of credit inflation; (not excessive savings, as the Keynesians would have it) which at all times in history has been caused by direct government action or by government influence. As for aggravated unemployment, the individualist insists that it is exclusively the result of government intervention through inflation, wage rigidities, burdensome taxes, and restrictions on trade and production such as price controls and tariffs. The inflation that comes inevitably with government pump-priming soon catches up with the laborer, wipes away any real increase in his wages, discourages private investment, and sets off a new deflationary spiral which can in turn only be counteracted by more coercive and paternalistic government policies. And so it is that the "long run" is very soon a-coming, and the harmful effects of government intervention are far more durable than those that are sustained by encouraging the unhampered free market to work out its own destiny.

What has been gained by hard fight in times of prosperity is often lost in times of depression. Unemployment was always the chief impediment to a continuous raising of the life standard of the working class.

When a woman had to seek work because her husband lost his job, this threatened the “modern” ideas of masculinity and marriage that most men had come to embrace over the previous two decades. Unemployed men often lost their sense of identity and became demoralized. Many turned to drink. Tempers flared at home. It is not surprising, then, that the experience of the Depression undercut the societal support for working women that had emerged in the early years of the twentieth century.

Those who want to blame crime on a lack of jobs cannot explain why crime rates fell in many cities during the Great Depression, when unemployment was high, and spiked during the 1960s, when economic growth was strong and jobs were plentiful. Indeed, the labor-force participation rate of young black men actually fell in the 1980s and 1990s, two of the longest periods of sustained economic growth in U.S. history. Shouldn’t ghetto attitudes toward work at least be part of this discussion?

A sacred wandering is a wilderness journey. You can find yourself in the midst of life transitions. Major upheavals. A career change. Soul searching. Infertility. Relocation. Illness. Depression. Divorce. Loss of a loved one. Unemployment. Returning to school. The empty nest.

Given what the stigmatized individual may well face upon entering a mixed social situation, he may anticipatorily respond by defensive cowering. This may be illustrated from an early study of some German unemployed during the Depression, the words being those of a 43-year-old mason:   How hard and humiliating it is to bear the name of an unemployed man. When I go out, I cast down my eyes because I feel myself wholly inferior. When I go along the street, it seems to me that I can’t be compared with an average citizen, that everybody is pointing at me with his finger. I instinctively avoid meeting anyone. Former acquaintances and friends of better times are no longer so cordial. They greet me indifferently when we meet. They no longer offer me a cigarette and their eyes seem to say, “You are not worth it, you don’t work.”37

As long as there are no routes back to full employment except that of somehow restoring business confidence, he pointed out, business lobbies in effect have veto power over government actions: propose doing anything they dislike, such as raising taxes or enhancing workers' bargaining power, and they can issue dire warnings that this will reduce confidence and plunge the nation into depression. But let monetary and fiscal policy be deployed to fight unemployment, and suddenly business confidence becomes less necessary, and the need to cater to capitalists' concern is much reduced.

unemployment neurosis.” And I could show that this neurosis really originated in a twofold erroneous identification: being jobless was equated with being useless, and being useless was equated with having a meaningless life. Consequently, whenever I succeeded in persuading the patients to volunteer in youth organizations, adult education, public libraries and the like—in other words, as soon as they could fill their abundant free time with some sort of unpaid but meaningful activity—their depression disappeared although their economic situation had not changed and their hunger was the same. The truth is that man does not live by welfare alone.

The economic system barely functions as it is—I mean, the contemporary economic system is a complete catastrophe, an absolutely catastrophic failure. For instance, the International Labor Organization recently gave its latest estimate of unemployment worldwide—"unemployment" they define as meaning not having enough work to meet a subsistence level, so maybe you can sell some handkerchiefs at a street corner or something, but you don't have enough work to survive on your own. They estimate that at about 30 percent of the world's population which makes it a lot worse than the Great Depression. Alright? Now, there's a ton of work to be done in the world-everywhere you look there's work that ought to be done. And the people who don't have work would be delighted to do it. So what you've got is a huge number of idle hands, a vast amount of work that ought to be done, and an economic system that is incapable of putting those two things together. Okay, absolutely catastrophic failure.

The depression which spread over the world like a great conflagration toward the end of 1929 gave Adolf Hitler his opportunity, and he made the most of it. Like most great revolutionaries he could thrive only in evil times, at first when the masses were unemployed, hungry and desperate, and later when they were intoxicated by war.

Black illiteracy decreased to 16.4 percent in 1930, from 45 percent in 1900. Fewer black babies died at birth—by half. Black life expectancy was rising. Most important, blacks were able to find work at about the same rates whites did. Data from the 1930 census would show black unemployment nationally standing slightly below white unemployment.

Popov, the head of Moscow’s City Council, took the floor. He did not believe that Russian Solidarity was a good option: 1991 would be the year of “catastrophe equal to a war or the Great Depression.” Soviet national income would fall by 10 or 20 percent, he said. Angry and unemployed masses would yearn for an authoritarian leader, he claimed: in America they had found Roosevelt, in Germany—Hitler.

I decide to scope out craigslist to see all the vibrant economic employment opportunities available to me in this depression. Oh, I’m sorry, I mean “recession.” No matter how many millions of jobs are lost, how much debt our country accrues, or how many years the stagnation drags on, it’s not a depression until the dogmatic media officially declares it to be a depression. It’s as if they believe by repeatedly printing or saying economists are afraid the economy will slip back into a recession, they’ll fool the masses of unemployed or underemployed into believing that not only are we not in a depression, but we aren’t even in a recession. I’m sure the millions of unemployed, freshly graduated college kids who have thousands of dollars of unshakable debt to pay off feel comforted by the empty repetition.

As long as there is hunger, poverty and treatable disease in the world there is work for us to do. As long as nations fight, and men hate, and corruption stalks the corridors of power; as long as there is unemployment and homelessness, depression and despair, our task is not yet done, and we hear, if we listen carefully enough, the voice of God asking us, as he asked the first humans, ‘Where are you?’ Hassidim tell the story of the

No death, no suffering. No funeral homes, abortion clinics, or psychiatric wards. No rape, missing children, or drug rehabilitation centers. No bigotry, no muggings or killings. No worry or depression or economic downturns. No wars, no unemployment. No anguish over failure and miscommunication. No con men. No locks. No death. No mourning. No pain. No boredom. No arthritis, no handicaps, no cancer, no taxes, no bills, no computer crashes, no weeds, no bombs, no drunkenness, no traffic jams and accidents, no septic-tank backups. No mental illness. No unwanted e-mails. Close friendships but no cliques, laughter but no put-downs. Intimacy, but no temptation to immorality. No hidden agendas, no backroom deals, no betrayals. Imagine mealtimes full of stories, laughter, and joy, without fear of insensitivity, inappropriate behavior, anger, gossip, lust, jealousy, hurt feelings, or anything that eclipses joy. That will be Heaven.

the most important instances of “injustice in exchange”—unemployment and inflation/deflation—result from party factions violating the basic principles of economic policy I show that from the Great Depression of 1929-33 to the Great Recession of 2007-9, all major U.S. financial crises can be traced to the dollar's role as chief official reserve currency—suggesting that to avoid similar future misfortunes, it's urgently necessary to end the dollar's “reserve currency curse.

Fourteen years of sharing political power in the Republic, of making all the compromises that were necessary to maintain coalition governments, had sapped the strength and the zeal of the Social Democrats until their party had become little more than an opportunist pressure organization, determined to bargain for concessions for the trade unions on which their strength largely rested. It might be true, as some Socialists said, that fortune had not smiled on them: the Communists, unscrupulous and undemocratic, had split the working class; the depression had further hurt the Social Democrats, weakening the trade unions and losing the party the support of millions of unemployed, who in their desperation turned either to the Communists or the Nazis. But the tragedy of the Social Democrats could not be explained fully by bad luck. They had had their chance to take over Germany in November 1918 and to found a state based on what they had always preached: social democracy. But they lacked the decisiveness to do so. Now at the dawn of the third decade they were a tired, defeatist party, dominated by old, well-meaning but mostly mediocre men. Loyal to the Republic they were to the last, but in the end too confused, too timid to take the great risks which alone could have preserved it, as they had shown by their failure to act when Papen turned out a squad of soldiers to destroy constitutional government in Prussia.

Along with unemployment neurosis, which is triggered by an individual's socioeconomic situation, there are other types of depression which are traceable back to psychodynamic or biochemical conditions, whichever the case may be. Accordingly, psychotherapy and pharmacotherapy are indicated respectively. Insofar as the feeling of meaninglessness is concerned, however, we should not overlook and forget that, per se, it is not a matter of pathology; rather than being the sign and symptom of a neurosis, it is, I would say, the proof of one's humanness. But although it is not caused by anything pathological, it may well cause a pathological reaction; in other words, it is potentially pathogenic. Just consider the mass neurotic syndrome so pervasive in the young generation: there is ample empirical evidence that the three facets of this syndrome - depression, aggression, addiction - are due to what is called in logotherapy "the existential vacuum," a feeling of emptiness and meaninglessness.

He maketh me to lie down on park benches He leadeth me besides still factories He dist[urbeth] my soul He leadeth me in the paths of destruction For the parties sake Yea, tho I walk thru the Valley of the shadows of depression I anticipate no recovery For he is with me He prepareth a reduction in my salary And in the presence of mine enemies. He anointeth my small income with taxes And my expense runneth over Surely unemployment and poverty shall follow me, All the days of my life and I will live in a mortgaged house forever.

He maketh me to lie down on park benches He leadeth me besides still factories He dist[urbeth] my soul He leadeth me in the paths of destruction For the parties sake Yea, tho I walk thru the Valley of the shadows of depression I anticipate no recovery For he is with me He prepareth a reduction in my salary And in the presence of mine enemies. He anointeth my small income with taxes And my expense runneth over Surely unemployment and poverty shall follow me, All the days of my life and I will live in a mortgaged house forever.90

Eli Willard just looked at her for a long moment, and then he announced, 'Lady of the Lake strikes iceberg in mid-Atlantic; 215 drown. New York City fire destroys 700 buildings. Japanese earthquake kills 12,000. Worldwide cholera epidemic kills millions. Wages rise, but prices rise faster. Financial crash occurs on Van Buren's 36th day in office. Nation begins first great depression. Bank failures and closings spread like plague. 200,000 are unemployed. Business bankrupt; only pawnbrokers prosper. Van Buren declares ten-hour days on all federal jobs. There. Does that make you feel any better?

Beyond grief lay Coolidge’s accurate perception that in the 1920s Mellon’s and his own policies were yielding the good that the men had predicted. Today we estimate that the highest level of unemployment under President Coolidge had been 5 percent in the year he was elected. From there it dropped to 3.2 percent in 1925 and then into the twos and ones. Citizens could afford all the new products. There was nothing bubbly about the potential for productivity gains. By the end of 1925 Ford’s peak production was 8,500 a day, up substantially from the 6,000 from a few years before. Overall in the years from 1923 to 1929 car production would double.

In the middle of my depression, somebody told me about a self-help group for people who wanted to persue personal visions, and I thought that might be just the thing for me, since I no longer had any. So I went to this Goals Meeting. It was in an Episcopal church in the leafy suburbs, and when I walked inside, a nice lady was explaing that her Goal was to get out of debt and buy a pony for her little daughter. Then this other fellow got up to share. He was a white boy in a dashiki. He said, "My name is Ira and I have a Goal. Right now I'm unemployed and in debt and I'm living with my parents, who don't understand me at all. But my faith in this program is so huge that I know that one year from today I'm going to be traveling across the United States with my Spirit Guide. My Spirit Guide is going to be a while malamute dog named Isis. I mean, I know this as clearly as I've known anything in my life. My Goal is for Isis to guide me to the homes of my favorite self-help authoers. Isis is going to take me to meet John Bradshaw and Louise Hay and M. Scott Peck, and I'm going to get them to mentor me!" He kind of bellowed this. And I wasn't sure whether Ira was exactly what John Bradshaw and Louise Hay and M. Scott Peck deserved or whether I hoped they kept shotguns in their homes. I was honestly torn.

Mercantilists promote the view that private market activity often drives the economy into difficulties which require government to intervene and set matters back on course. They typically characterize the economy as cyclical, driven to excesses by human emotions of greed and fear, which cause “bubbles” and “crashes” and interrupt steady progress of society. Government, they say, must prevent these cycles, smooth these bubbles and crashes, so as to achieve less volatility and greater stability in economic growth. Then they persuade government to adopt policies which produce cycles, bubbles, crashes, volatility, high taxes and unemployment, and economic instability —and monstrously large, illicit gains for themselves.

Milwaukee used to be flush with good jobs. But throughout the second half of the twentieth century, bosses in search of cheap labor moved plants overseas or to Sunbelt communities, where unions were weaker or didn't exist. Between 1979 and 1983, Milwaukee's manufacturing sector lost more jobs than during the Great Depression - about 56,000 of them. The city where virtually everyone had a job in the postwar years saw its unemployment rate climb into the double digits. Those who found new work in the emerging service industry took a pay cut. As one historian observed, 'Machinists in the old Allis-Chalmers plant earned at least $11.60 an hour; clerks in the shopping center that replaced much of that plant in 1987 earned $5.23.

Most people today are not aware that British Prime Minister Neville Chamberlain helped restore Great Britain’s financial stability during the Great Depression and also passed legislation to extend unemployment benefits, pay pensions to retired workers, and otherwise help those hit hard by the slumping economy. But history does remember his failure to confront Hitler. That is Chamberlain’s enduring legacy. So too will Iran’s construction of nuclear weapons, if it manages to do so in the next few years, become President Barack Obama’s enduring legacy. Regardless of his passage of health care reform and regardless of whether he restores jobs and helps the economy recover, Mr. Obama will be remembered for allowing Iran to obtain nuclear weapons.

Hitler remains undeniably the creation of his time, a creature of German imagination rather than, strictly speaking, of social and economic forces. He was never regarded in the first instance as the prospective agent of social and economic recovery—that was a post facto interpretation—but rather as a symbol of revolt and counteraffirmation by the dispossessed, the frustrated, the humiliated, the unemployed, the resentful, the angry. Hitler stood for protest. He was a mental construct in the midst of defeat and failure, of inflation and depression, of domestic political chaos and international humiliation. ... The ultimate kitsch artist, he filled the abyss with symbols of beauty. The victim he turned into the hero, hell into heaven, death into transfiguration.

Fifty years ago, I published a study2 devoted to a specific type of depression I had diagnosed in cases of young patients suffering from what I called “unemployment neurosis.” And I could show that this neurosis really originated in a twofold erroneous identification: being jobless was equated with being useless, and being useless was equated with having a meaningless life. Consequently, whenever I succeeded in persuading the patients to volunteer in youth organizations, adult education, public libraries and the like—in other words, as soon as they could fill their abundant free time with some sort of unpaid but meaningful activity—their depression disappeared although their economic situation had not changed and their hunger was the same. The truth is that man does not live by welfare alone.

Fifty years ago, I published a study devoted to a specific type of depression I had diagnosed in cases of young patients suffering from what I called "unemployment neurosis." And I could show that this neurosis really originated in a twofold erroneous identification: being jobless was equated with being useless, and being useless was equated with having a meaningless life. Consequently, whenever I succeeded in persuading the patients to volunteer in youth organizations, adult education, public libraries and the like - in other words, as soon as they could fill their abundant free time with some sort of unpaid but meaningful activity - their depression disappeared although their economic situation had not changed and their hunger was the same. The truth is that man does not live by welfare alone

In particular, I think of the mass of people who are today unemployed. Fifty years ago, I published a studyfn3 devoted to a specific type of depression I had diagnosed in cases of young patients suffering from what I called “unemployment neurosis.” And I could show that this neurosis really originated in a twofold erroneous identification: being jobless was equated with being useless, and being useless was equated with having a meaningless life. Consequently, whenever I succeeded in persuading the patients to volunteer in youth organizations, adult education, public libraries and the like—in other words, as soon as they could fill their abundant free time with some sort of unpaid but meaningful activity—their depression disappeared although their economic situation had not changed and their hunger was the same. The truth is that man does not live by welfare alone.

As I write this note, it is May 2020, and the world is battling the coronavirus pandemic. My husband’s best friend, Tom, who was one of the earliest of our friends to encourage my writing and who was our son’s godfather, caught the virus last week and has just passed away. We cannot be with his widow, Lori, and his family to mourn. Three years ago, I began writing this novel about hard times in America: the worst environmental disaster in our history; the collapse of the economy; the effect of massive unemployment. Never in my wildest dreams did I imagine that the Great Depression would become so relevant in our modern lives, that I would see so many people out of work, in need, frightened for the future. As we know, there are lessons to be learned from history. Hope to be derived from hardships faced by others. We’ve gone through bad times before and survived, even thrived. History has shown us the strength and durability of the human spirit. In the end, it is our idealism and our courage and our commitment to one another—what we have in common—that will save us. Now, in these dark days, we can look to history, to the legacy of the Greatest Generation and the story of our own past, and take strength from it.

Franklin D. Roosevelt became the architect of the American welfare state. However, Roosevelt was concerned that the institution he was fostering would not live long, since it might destroy the spirit of self-reliance. Two years into his presidency, he held a speech to Congress praising the expansion of welfare programs. During the same speech the president warned that many of the individuals who had lost their jobs during the Great Depression still remained unemployed. “The burden on the Federal Government has grown with great rapidity,” he said, adding that one reason was that many had become dependent on various forms of public handouts. With foresight Roosevelt explained: “When humane considerations are concerned, Americans give them precedence. The lessons of history, confirmed by the evidence immediately before me, show conclusively that continued dependence upon relief induces a spiritual and moral disintegration fundamentally destructive to the national fibre. To dole out relief in this way is to administer a narcotic, a subtle destroyer of the human spirit. It is inimical to the dictates of sound policy. It is in violation of the traditions of America.”1 In today’s political climate, Franklin D. Roosevelt’s view on public benefits would seem quite harsh, far from politically correct. Hillary

The depression which spread over the world like a great conflagration toward the end of 1929 gave Adolf Hitler his opportunity, and he made the most of it. Like most great revolutionaries he could thrive only in evil times, at first when the masses were unemployed, hungry and desperate, and later when they were intoxicated by war. Yet in one respect he was unique among history’s revolutionaries: He intended to make his revolution after achieving political power. There was to be no revolution to gain control of the State. That goal was to be reached by mandate of the voters or by the consent of the rulers of the nation—in short, by constitutional means. To get the votes Hitler had only to take advantage of the times, which once more, as the Thirties began, saw the German people plunged into despair; to obtain the support of those in power he had to convince them that only he could rescue Germany from its disastrous predicament. In the turbulent years from 1930 to 1933 the shrewd and daring Nazi leader set out with renewed energy to obtain these twin objectives. In retrospect it can be seen that events themselves and the weakness and confusion of the handful of men who were bound by their oath to loyally defend the democratic Republic which they governed played into Hitler’s hands. But this was by no means foreseeable at the beginning of 1930.

Anthony Fauci seems to have not considered that his unprecedented quarantine of the healthy would kill far more people than COVID, obliterate the global economy, plunge millions into poverty and bankruptcy, and grievously wound constitutional democracy globally. We have no way of knowing how many people died from isolation, unemployment, deferred medical care, depression, mental illness, obesity, stress, overdoses, suicide, addiction, alcoholism, and the accidents that so often accompany despair. We cannot dismiss the accusations that his lockdowns proved more deadly than the contagion. A June 24, 2021 BMJ study22 showed that US life expectancy decreased by 1.9 years during the quarantine. Since COVID mortalities were mainly among the elderly, and the average age of death from COVID in the UK was 82.4, which was above the average lifespan,23 the virus could not by itself cause the astonishing decline. As we shall see, Hispanic and Black Americans often shoulder the heaviest burden of Dr. Fauci’s public health adventures. In this respect, his COVID-19 countermeasures proved no exception. Between 2018 and 2020, the average Hispanic American lost around 3.9 years in longevity, while the average lifespan of a Black American dropped by 3.25 years.24 This dramatic culling was unique to America. Between 2018 and 2020, the 1.9 year decrease in average life expectancy at birth in the US was roughly 8.5 times the average decrease in 16 comparable countries, all of which were measured in months, not years.25

International economic integration generally expands economic opportunities and is good for society. The great alternatives to economic integration failed. Attempts to seal countries off from the rest of the world economy in the 1930s were ultimately disastrous. Germany, Italy, and Japan closed their economies and also turned toward dictatorship, war, and conquest. The poor countries and former colonies that created closed economies in the 1930s and 1940s collapsed into economic stagnation, social unrest, crisis, and military dictatorships in the 1970s and 1980s. Few countries have achieved economic progress without access to the international economy. But an insistence on globalization at all cost is equally misguided. During the golden age of global capitalism before 1914, governments committed themselves to international economic integration and little else. Supporters of free trade, the gold standard, and international finance wanted governments to limit themselves to safeguarding these policies and their properties. But these governments ignored the concerns of many harmed by globalization. As the working and middle classes grew, so did their demands for social reforms to improve the lot of the unemployed, the poor, children, and the elderly. The clash between classical orthodoxy and these new social movements turned into bitter, often violent, conflicts, especially once the Depression hit. Attempts to maintain global capitalism without addressing those ill treated by world markets drove societies toward polarization and conflict.

The banishing of a leper seems harsh, unnecessary. The Ancient East hasn’t been the only culture to isolate their wounded, however. We may not build colonies or cover our mouths in their presence, but we certainly build walls and duck our eyes. And a person needn’t have leprosy to feel quarantined. One of my sadder memories involves my fourth-grade friend Jerry.1He and a half-dozen of us were an ever-present, inseparable fixture on the playground. One day I called his house to see if we could play. The phone was answered by a cursing, drunken voice telling me Jerry could not come over that day or any day. I told my friends what had happened. One of them explained that Jerry’s father was an alcoholic. I don’t know if I knew what the word meant, but I learned quickly. Jerry, the second baseman; Jerry, the kid with the red bike; Jerry, my friend on the corner was now “Jerry, the son of a drunk.” Kids can be hard, and for some reason we were hard on Jerry. He was infected. Like the leper, he suffered from a condition he didn’t create. Like the leper, he was put outside the village. The divorced know this feeling. So do the handicapped. The unemployed have felt it, as have the less educated. Some shun unmarried moms. We keep our distance from the depressed and avoid the terminally ill. We have neighborhoods for immigrants, convalescent homes for the elderly, schools for the simple, centers for the addicted, and prisons for the criminals. The rest simply try to get away from it all. Only God knows how many Jerrys are in voluntary exile—individuals living quiet, lonely lives infected by their fear of rejection and their memories of the last time they tried. They choose not to be touched at all rather than risk being hurt again.

KEYNESIAN ECONOMICS AND STIMULUS Keynesian economics is based on the notion that unemployment arises when total or aggregate demand in an economy falls short of the economy’s ability to supply goods and services. When products go unsold, jobs are lost. Aggregate demand, in turn, comes from two sources: the private sector (which is the majority) and the government. At times, aggregate demand is too buoyant—goods fly off the shelves and labor is in great demand—and we get rising inflation. At other times, aggregate demand is inadequate—goods are hard to sell and jobs are hard to find. In those cases, Keynes argued in the 1930s, governments can boost employment by cutting interest rates (what we now call looser monetary policy), raising their own spending, or cutting people’s taxes (what we now call looser fiscal policy). By the same logic, when there is too much demand, governments can fight actual or incipient inflation by raising interest rates (tightening monetary policy), increasing taxes, or reducing its own spending (thus tightening fiscal policy). That’s part of standard Keynesian economics, too, although Keynes, writing during the Great Depression, did not emphasize it. Setting aside the underlying theory, the central Keynesian policy idea is that the government can—and, Keynes argued, should—act as a kind of balance wheel, stimulating aggregate demand when it’s too weak and restraining aggregate demand when it’s too strong. For decades, American economists took for granted that most of that job should and would be done by monetary policy. Fiscal policy, they thought, was too slow, too cumbersome, and too political. And in the months after the Lehman Brothers failure, the Federal Reserve did, indeed, pull out all the stops—while fiscal policy did nothing. But what happens when, as was more or less the case by December 2008, the central bank has done almost everything it can, and yet the economy is still sinking? That’s why eyes started turning toward Congress and the president—that is, toward fiscal stimulus—after the 2008 election.

As I write this note, it is May 2020, and the world is battling the coronavirus pandemic. My husband’s best friend, Tom, who was one of the earliest of our friends to encourage my writing and who was our son’s godfather, caught the virus last week and has just passed away. We cannot be with his widow, Lori, and his family to mourn. Three years ago, I began writing this novel about hard times in America: the worst environmental disaster in our history; the collapse of the economy; the effect of massive unemployment. Never in my wildest dreams did I imagine that the Great Depression would become so relevant in our modern lives, that I would see so many people out of work, in need, frightened for the future. As we know, there are lessons to be learned from history. Hope to be derived from hardships faced by others. We’ve gone through bad times before and survived, even thrived. History has shown us the strength and durability of the human spirit. In the end, it is our idealism and our courage and our commitment to one another—what we have in common—that will save us. Now, in these dark days, we can look to history, to the legacy of the Greatest Generation and the story of our own past, and take strength from it. Although my novel focuses on fictional characters, Elsa Martinelli is representative of hundreds of thousands of men, women, and children who went west in the 1930s in search of a better life. Many of them, like the pioneers who went west one hundred years before them, brought nothing more than a will to survive and a hope for a better future. Their strength and courage were remarkable. In writing this story, I tried to present the history as truthfully as possible. The strike that takes place in the novel is fictional, but it is based on strikes that took place in California in the thirties. The town of Welty is fictional as well. Primarily where I diverged from the historical record was in the timeline of events. There are instances in which I chose to manipulate dates to better fit my fictional narrative. I apologize in advance to historians and scholars of the era. For more information about the Dust Bowl years or the migrant experience in California, please go to my website KristinHannah.com for a suggested reading list.

As Dr. Fauci’s policies took hold globally, 300 million humans fell into dire poverty, food insecurity, and starvation. “Globally, the impact of lockdowns on health programs, food production, and supply chains plunged millions of people into severe hunger and malnutrition,” said Alex Gutentag in Tablet Magazine.27 According to the Associated Press (AP), during 2020, 10,000 children died each month due to virus-linked hunger from global lockdowns. In addition, 500,000 children per month experienced wasting and stunting from malnutrition—up 6.7 million from last year’s total of 47 million—which can “permanently damage children physically and mentally, transforming individual tragedies into a generational catastrophe.”28 In 2020, disruptions to health and nutrition services killed 228,000 children in South Asia.29 Deferred medical treatments for cancers, kidney failure, and diabetes killed hundreds of thousands of people and created epidemics of cardiovascular disease and undiagnosed cancer. Unemployment shock is expected to cause 890,000 additional deaths over the next 15 years.30,31 The lockdown disintegrated vital food chains, dramatically increased rates of child abuse, suicide, addiction, alcoholism, obesity, mental illness, as well as debilitating developmental delays, isolation, depression, and severe educational deficits in young children. One-third of teens and young adults reported worsening mental health during the pandemic. According to an Ohio State University study,32 suicide rates among children rose 50 percent.33 An August 11, 2021 study by Brown University found that infants born during the quarantine were short, on average, 22 IQ points as measured by Baylor scale tests.34 Some 93,000 Americans died of overdoses in 2020—a 30 percent rise over 2019.35 “Overdoses from synthetic opioids increased by 38.4 percent,36 and 11 percent of US adults considered suicide in June 2020.37 Three million children disappeared from public school systems, and ERs saw a 31 percent increase in adolescent mental health visits,”38,39 according to Gutentag. Record numbers of young children failed to reach crucial developmental milestones.40,41 Millions of hospital and nursing home patients died alone without comfort or a final goodbye from their families. Dr. Fauci admitted that he never assessed the costs of desolation, poverty, unhealthy isolation, and depression fostered by his countermeasures. “I don’t give advice about economic things,”42 Dr. Fauci explained. “I don’t give advice about anything other than public health,” he continued, even though he was so clearly among those responsible for the economic and social costs.

Charles’s childhood coincided with America’s first great depression, the Panic of 1837, which lasted a Biblical seven years. A newspaper out of Albany, the Knickerbocker, reported in 1837 that “there never was a time like this,” with “rumor after rumor of riot, insurrection, and tumult.”26 Banks collapsed, and unemployment climbed to 25 percent. Factories along the eastern seaboard were shuttered, and soup kitchens opened in major cities. Two out of three New Yorkers were said to be without means of support. Eight states defaulted on loans. In his literary magazine, Horace Greeley made the first of his famous entreaties to pull up stakes: “Fly, scatter through the country, go to the Great West, anything rather than remain here.”27

I’m not an electrician anymore.” That loss of meaning and purpose has very real and serious consequences. Rates of depression triple among those unemployed for six months, and people looking for work are twice as likely to commit suicide as the gainfully employed. Alcohol abuse and opioid overdoses both rise alongside unemployment rates, with some scholars attributing rising mortality rates among uneducated white Americans to declining economic outcomes, a phenomenon they call “deaths of despair.

Because you have nothing, it doesn't mean you are useless. Because we don't know you. It doesn't mean you are not important. Because some ill treat you or abuse you. It doesn't mean you are not special. Because others hurt you, it doesn't mean you are not loved. You mean a lot to other people, even thou ,you don’t know it . Choose to live and choose life. We are all fighting demons, depression, poverty, rejection, failure, hate, unemployment, and a lost of loved ones. We just choose to focus on positive things in life, rather than negative things. Choose to focus on good things happening than on bad things happening.

The years 1880–1913 constitute the great era of laissez-faire in world economic history—the reign of the classical gold standard, in which governments around the globe had allowed an unprecedented degree of economic activity within and between their nations to be regulated by the market-driven transfer of gold claims across borders (the physical stuff itself just shifted around in central bank vaults). The year 1933, in stark contrast, saw the world mired in the Great Depression, with the gold standard in tatters, trade decimated, and unemployment at previously unimagined levels.

So, with no prospects and no skills (again, I majored in The History and Literature of Russia and Britain), I got ahead of the millennial curve and moved back to my parents’ house and into my childhood bedroom. Which, if you haven’t done it, is one of the most humiliating experiences an adult can go through. At first you think, No big deal. It’s like I’m back in high school, except no curfew and I can drink in front of my parents! Then you have one drink in front of your parents in your childhood kitchen and you’re like, I’m the saddest boy on Earth. There’s something about moving back home after college that eliminates all the respect you accumulated by going away to college. All the bragging your parents did about you going to a good school disappears overnight. You live in their house, yet they dare not speak your name in public, for fear that a friend of theirs with a working child will ask, “And what is Colin doing now?” So you slink around and try to eat alone at odd hours and then go to a movie at 11:45 P.M. on a Tuesday with your one other loser friend who moved back home. Then you go to a diner at 2 A.M. and see your high school girlfriend and she’s already married with three kids and you don’t understand how that’s even physically possible. (Or why she’s at a diner at 2 A.M. with three kids at home.) So you ask the diner to make your plate of eggs “to go” to escape the whole scene and now you’re eating cold eggs in the basement of your house at 3 A.M., watching Howard Stern tell a porn star to kiss Gary the Retard, because that’s easily the most thrilling moment of your day. And pretty soon you’re thinking, Why the fuck did I major in the History and Literature of Russia and Britain? After a few weeks of extreme depression, I talked to a couple friends from college who were equally miserable and unemployed, and we all decided: Let’s move to Manhattan or Brooklyn or wherever we can get an apartment and just force ourselves to get jobs and become actual adults. And my parents were like, “No…don’t…” And then closed the door behind me and locked it.

Unemployment will progress beyond the “frictional” stage and become really severe and lasting only if wage rates are kept artificially high and are prevented from falling. If wage rates are kept above the free-market level that clears the demand for and supply of labor, laborers will remain permanently unemployed.

The idea of national economic planning has been deeply discredited. The collapse of the state-socialist system in Eastern Europe and the USSR gave rise to a mood of capitalist triumphalism, which lasted only ten years, and was undermined by the difficulties of ‘transition’, the behaviour of the world capital market, the inequality and unemployment in the capitalist countries, and the depressions in some of them.

When doubts about the survival of the single currency surfaced in 2010, the financial markets started to view countries on Europe’s periphery, from Ireland to Greece, as over-indebted and uncompetitive. Bound by euro-fetters, members of the Eurozone could not regain competitiveness by devaluing their currencies. Instead, interest rates across the region diverged, with highly indebted countries, including Italy and Greece, suddenly forced to pay hefty risk premiums. Meanwhile German bond yields headed into negative territory. Deflation beckoned. Deleveraging was in order. To bring down labour costs, the PIIGS were going to have to embrace deep structural reforms. Unemployment in Spain climbed to Great Depression levels. Schumpeter’s forces of creative destruction were about to be unleashed, big time.

parents or grandparents were drug- or alcohol-addicted have dramatically increased odds of becoming addicted themselves, with genetics accounting for 50 to 60 percent of that risk, Lembke explained; she noted that the correlation between family history and depression is much lower, 30 percent. Other risk factors for addiction include poverty, unemployment, multigenerational trauma, and access to drugs.

Anthony Fauci seems to have not considered that his unprecedented quarantine of the healthy would kill far more people than COVID, obliterate the global economy, plunge millions into poverty and bankruptcy, and grievously wound constitutional democracy globally. We have no way of knowing how many people died from isolation, unemployment, deferred medical care, depression, mental illness, obesity, stress, overdoses, suicide, addiction, alcoholism, and the accidents that so often accompany despair. We cannot dismiss the accusations that his lockdowns proved more deadly than the contagion. A June 24, 2021 BMJ study22 showed that US life expectancy decreased by 1.9 years during the quarantine.

Only the Soviet Union escaped the Great Depression during the 1930s. While the major capitalist economies saw tens of millions of workers suddenly lose employment (the unemployment rate in the US was 25 percent in 1932), the planned economy in the USSR experienced massive growth.

The first thought of writing this book came to me two years ago after I had driven through the mining district of Lanarkshire. The journey took me through Hamilton, Airdrie and Motherwell. It was a warm, overcast summer day; groups of idle, sullen-looking young men stood at the street corners; smaller groups were wandering among the blue-black ranges of pit-dumps which in that region are the substitute for nature; the houses looked empty and unemployed like the tenants; and the road along which the car stumbled was pitted and rent, as if it had recently been under shell-fire. Everything had the look of a Sunday which had lasted for many years, during which the bells had forgotten to ring - a disused, slovenly everlasting Sunday.

All sorts of people are for it. Numerous senators and representatives—of the Right and Left—have expressed their purpose to establish universal military training when the war ends. The great and glamorous industry is here—the industry of militarism. And when the war is ended the country is going to be asked if it seriously wishes to demobilize an industry that can employ so many men, create so much national income when the nation is faced with the probability of vast unemployment in industry. All the well-known arguments, used so long and so successfully in Europe … will be dusted off—America with her high purposes of world regeneration must have the power to back up her magnificent ideals; America cannot afford to grow soft, and the Army and Navy must be continued on a vast scale to toughen the moral and physical sinews of our youth; America dare not live in a world of gangsters and aggressors without keeping her full power mustered … and above and below and all around these sentiments will be the sinister allurement of the perpetuation of the great industry which can never know a depression because it will have but one customer—the American government to whose pocket there is no bottom.16

During the early 1980s, the overall black unemployment rate stood at 15.5 percent—“an all time high” since the Great Depression—while unemployment among African American youth was a staggering 45.7 percent. At this point Reagan chose to slash the training, employment, and labor services budget by 70 percent—a cut of $3.805 billion.90 The only “ ‘urban’ program that survived the cuts was federal aid for highways—which primarily benefited suburbs, not cities.” In keeping with Lee Atwater’s mantra that “blacks get hurt worse than whites,” Reagan gutted aid to cities so extensively that federal dollars were reduced from 22 percent of a city’s budget to 6 percent. Cities responded with sharp austerity measures that shut down libraries, closed municipal hospitals, and cut back on garbage pickup. Some cities even dismantled their police and fire departments.91

I knew I should have been looking for a job, but just having lost one, I felt kind of unmotivated. Depressed. Useless. I couldn't even keep a job. What kind of loser can't even do a job well enough to just stay employed?

Fighting unemployment by methods far more costly than the opening of bread lines and soup kitchens would not have been given serious consideration, regardless of which party might have been in office. Since 1932 all that is reversed. The Democrats may or may not be less concerned with a balanced federal budget than the Republicans. However, from President Eisenhower on down, with the possible exception of former Secretary of the Treasury Humphrey, the responsible Republican leadership has said again and again that if business should really turn down they would not hesitate to lower taxes or make whatever other deficit-producing moves were necessary to restore prosperity and eliminate unemployment. This is a far cry from the doctrines that prevailed prior to the big depression.

Corporate interests raised a nearly unified voice heralding automation as a certain and universal beneficial advancement. However, some observers saw the new technology as a cause for concern and cautioned that the final word on automation would depend on the choices that industry and the nation made in the face of difficult questions regarding the pace of automation’s implementation, the uses of the new productivity, and the fate of displaced workers as well as depleted or eliminated job classifications, communities, and even industries. Norbert Wiener, for example, a prominent MIT mathematician and pioneer in the science of cybernetics, emphasized the potentially calamitous economic and social consequences of the new production technology. Wiener had begun to express concerns about the impacts of automation on labor and the entire society during World War II, and he authored two books in the immediate Cold War years warning that potentially disastrous unemployment and related social problems may come from industry’s drive toward automation. He characterized automation and computer controls in the production process as the “modern” or “second” industrial revolution, which even more than the first held “unbounded possibilities for good and evil.” 104 In particular, Wiener feared that the larger impact of the changes caused by automation would be a massive displacement of workers, compounded by the profit-driven indifference of industry. “The automatic machine … will produce an unemployment situation, in comparison with which the present recession and even the depression of the thirties will seem a pleasant joke.” 105

There were other important reasons for the growth of American individualism at the expense of community in the second half of the twentieth century besides the nature of capitalism. The first arose as an unintended consequence of a number of liberal reforms of the 1960s and 1970s. Slum clearance uprooted and destroyed many of the social networks that existed in poor neighborhoods, replacing them with an anonymous and increasingly dangerous existence in high-rise public housing units. “Good government” drives eliminated the political machines that at one time governed most large American cities. The old, ethnically based machines were often highly corrupt, but they served as a source of local empowerment and community for their clients. In subsequent years, the most important political action would take place not in the local community but at higher and higher levels of state and federal government. A second factor had to do with the expansion of the welfare state from the New Deal on, which tended to make federal, state, and local governments responsible for many social welfare functions that had previously been under the purview of civil society. The original argument for the expansion of state responsibilities to include social security, welfare, unemployment insurance, training, and the like was that the organic communities of preindustrial society that had previously provided these services were no longer capable of doing so as a result of industrialization, urbanization, decline of extended families, and related phenomena. But it proved to be the case that the growth of the welfare state accelerated the decline of those very communal institutions that it was designed to supplement. Welfare dependency in the United States is only the most prominent example: Aid to Familles with Dependent Children, the depression-era legislation that was designed to help widows and single mothers over the transition as they reestablished their lives and families, became the mechanism that permitted entire inner-city populations to raise children without the benefit of fathers. The rise of the welfare state cannot be more than a partial explanation for the decline of community, however. Many European societies have much more extensive welfare states than the United States; while nuclear families have broken down there as well, there is a much lower level of extreme social pathology. A more serious threat to community has come, it would seem, from the vast expansion in the number and scope of rights to which Americans believe they are entitled, and the “rights culture” this produces. Rights-based individualism is deeply embedded in American political theory and constitutional law. One might argue, in fact, that the fundamental tendency of American institutions is to promote an ever-increasing degree of individualism. We have seen repeatedly that communities tend to be intolerant of outsiders in proportion to their internal cohesiveness, because the very strength of the principles that bind members together exclude those that do not share them. Many of the strong communal structures in the United States at midcentury discriminated in a variety of ways: country clubs that served as networking sites for business executives did not allow Jews, blacks, or women to join; church-run schools that taught strong moral values did not permit children of other denominations to enroll; charitable organizations provided services for only certain groups of people and tried to impose intrusive rules of behavior on their clients. The exclusiveness of these communities conflicted with the principle of equal rights, and the state increasingly took the side of those excluded against these communal organizations.

We saw fouled beaches, dead wildlife, destroyed wetlands, unemployed fishermen, bankrupt tourism businesses, depressed local economies, ruined communities.

In spring, 1937, of course, families still rode the rails because of the Depression, which everyone said was already in the history books as the worst ever. The jobs still couldn’t be found, at least for most people. Everett itself—the smaller, poorer, little brother lying north of Seattle—ached with the unemployed and the hopeless. The labor union tensions in the woods still festered and got bloody at times. But Skybillings—and the railroad logging shows of the Cascade Mountains—felt like they were, inch-by-inch, rebuilding America.

Pastoral theologians are Christian practitioners who focus every day on how to help people recover from the wounds of everyday life within modern culture. How do persons survive the many threats to their health and salvation when conflict, violence, and danger face them on every side? How do people survive jobs that destroy their autonomy and dignity? How do people survive unemployment and poverty during times of economic depression and shifting global markets? How do people manage their roles as marriage partners, parents,

Collins consolidating power. When it came to news about Collins, there was nothing, as if it never happened that he announced the elections nullified. However, the stock market prices were in a free fall, down at least two thousand points since that morning. The stock market reporter was saying the stock market hadn’t been that bad since the Second Great Depression of 2008 to 2016. If the market were to get even lower, the results could resemble the original Great Depression from one hundred years prior. Gas prices would soar even higher, electric rates would hit the stratosphere, food would get more expensive, and unemployment would definitely hit 1930’s rates of unemployment. However, the reporter wouldn’t blame the stock market crashing on anything,

But the myth of job stability may be the least of our concerns. A 2011 study conducted by a team of social scientists at the University of Canberra in Australia concluded that having a job we hate is as bad for our health and sometimes worse than not having a job at all. Levels of depression and anxiety among people who are unhappy at work were the same or greater than those who were unemployed. Stress and anxiety at work have less to do with the work we do and more to do with weak management and leadership. When we know that there are people at work who care about how we feel, our stress levels decrease. But when we feel like someone is looking out for themselves or that the leaders of the company care more about the numbers than they do us, our stress and anxiety go up. This is why we are willing to change jobs in the first place; we feel no loyalty to a company whose leaders offer us no sense of belonging or reason to stay beyond money and benefits.

Credit expansion results in the recurrence of economic crisis and periods of depression. Inflation makes the prices of all commodities and services soar. The attempts to enforce wage rates higher than those the unhampered market would have determined produce mass unemployment prolonged year after year. Price ceilings result in a drop in the supply of commodities affected. The economists have proved these theorems in an irrefutable way. No

In the United States the fate of veterans was also fraught with problems. In 1918, when they returned home from the battlefields of France and Flanders, they had been welcomed as national heroes, just as the soldiers returning from Iraq and Afghanistan are today. In 1924 Congress voted to award them a bonus of $1.25 for each day they had served overseas, but disbursement was postponed until 1945. By 1932 the nation was in the middle of the Great Depression, and in May of that year about fifteen thousand unemployed and penniless veterans camped on the Mall in Washington DC to petition for immediate payment of their bonuses. The Senate defeated the bill to move up disbursement by a vote of sixty-two to eighteen. A month later President Hoover ordered the army to clear out the veterans’ encampment. Army chief of staff General Douglas MacArthur commanded the troops, supported by six tanks. Major Dwight D. Eisenhower was the liaison with the Washington police, and Major George Patton was in charge of the cavalry. Soldiers with fixed bayonets charged, hurling tear gas into the crowd of veterans. The next morning the Mall was deserted and the camp was in flames.7 The veterans never received their pensions.

but the truth was just the opposite: advances in economics over the past seventy years had identified the limits of free markets. Of course, anyone with open eyes could have seen this for themselves: episodic unemployment, sometimes massive, as in the Great Depression and pollution so bad in some places that air was unbreathable were just the two most obvious “proofs” that markets on their own don’t necessarily work well.

I WOULD OFTEN think back to that Santelli clip, which foreshadowed so many of the political battles I’d face during my presidency. For there was at least one sideways truth in what he’d said: Our demands on the government had changed over the past two centuries, since the time the Founders had chartered it. Beyond the fundamentals of repelling enemies and conquering territory, enforcing property rights and policing issues that property-holding white men deemed necessary to maintain order, our early democracy had largely left each of us to our own devices. Then a bloody war was fought to decide whether property rights extended to treating Blacks as chattel. Movements were launched by workers, farmers, and women who had experienced firsthand how one man’s liberty too often involved their own subjugation. A depression came, and people learned that being left to your own devices could mean penury and shame. Which is how the United States and other advanced democracies came to create the modern social contract. As our society grew more complex, more and more of the government’s function took the form of social insurance, with each of us chipping in through our tax dollars to protect ourselves collectively—for disaster relief if our house was destroyed in a hurricane; unemployment insurance if we lost a job; Social Security and Medicare to lessen the indignities of old age; reliable electricity and phone service for those who lived in rural areas where utility companies wouldn’t otherwise make a profit; public schools and universities to make education more egalitarian. It worked, more or less. In the span of a generation and for a majority of Americans, life got better, safer, more prosperous, and more just. A broad middle class flourished. The rich remained rich, if maybe not quite as rich as they would have liked, and the poor were fewer in number, and not as poor as they’d otherwise have been. And if we sometimes debated whether taxes were too high or certain regulations were discouraging innovation, whether the “nanny state” was sapping individual initiative or this or that program was wasteful, we generally understood the advantages of a society that at least tried to offer a fair shake to everyone and built a floor beneath which nobody could sink.

Norman resisted further hikes, fearing that they would only create more unemployment and by intensifying the domestic depression, might even reinforce the speculative attack on the pound.

But the myth of job stability may be the least of our concerns. A 2011 study conducted by a team of social scientists at the University of Canberra in Australia concluded that having a job we hate is as bad for our health and sometimes worse than not having a job at all. Levels of depression and anxiety among people who are unhappy at work were the same or greater than those who were unemployed.

After the beginning of the Great Depression in ’29, President Herbert Hoover effectively rescinded this plan. Unemployed and deeply embittered, twenty-five thousand veterans marched on Washington with over ten thousand men and their families setting up Hooverville in Anacostia Flat, a muddy river bottom of the Potomac.

As the more intelligent and ambitious people moved out of the plateau the percentage of mental defectives relative to the total population rose sharply. Their low intelligence added to their employment woes, but their votes were as potent as those of the wealthiest merchants in the county seats. The doctors and Welfare workers were sympathetic to them—and it is difficult for one to be otherwise. When a man and his wife are unemployed and unemployable, public assistance is the only alternative to cold and starvation and they inevitably wind up on the relief rolls.

By 1932 the nation was in the middle of the Great Depression, and in May of that year about fifteen thousand unemployed and penniless veterans camped on the Mall in Washington DC to petition for immediate payment of their bonuses. The Senate defeated the bill to move up disbursement by a vote of sixty-two to eighteen. A month later President Hoover ordered the army to clear out the veterans’ encampment. Army chief of staff General Douglas MacArthur commanded the troops, supported by six tanks. Major Dwight D. Eisenhower was the liaison with the Washington police, and Major George Patton was in charge of the cavalry. Soldiers with fixed bayonets charged, hurling tear gas into the crowd of veterans. The next morning the Mall was deserted and the camp was in flames.7 The veterans never received their pensions.

when you dig into the details, each of the options they propose—whether nationalization of the banks, or stretching the definitions of criminal statutes to prosecute banking executives, or simply letting a portion of the banking system collapse so as to avoid moral hazard—would have required a violence to the social order, a wrenching of political and economic norms, that almost certainly would have made things worse. Not worse for the wealthy and powerful, who always have a way of landing on their feet. Worse for the very folks I’d be purporting to save. Best-case scenario, the economy would have taken longer to recover, with more unemployment, more foreclosures, more business closures. Worst-case scenario, we might have tipped into a full-scale depression.

Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people.

Everywhere I landed, I didn't really feel like I belonged. Doing postgrad stuff, I felt like I didn't have any skills. Just felt unaccomplished. I was just there to ride out the downturn, and I felt like everybody knew it. Then there's the shame of unemployment. because I wasn't really unemployed. There were plenty of people who were actually looking for jobs. Auntie had lost her job as a tax analyst, turned around and became a nurse. Felt like I was ducking and dodging responsibility. I was just overeducated and useless, taking a job from someone who needed it and deserved it more than me. Got put in a psych ward after a suicide attempt, and when I was in that place, I didn't even feel like I was really depressed or really going through it. Felt like I was faking it to get out of something. Like I was avoiding work. Felt like there was no place for me, because I wasn't capable of working. All my friends who studied econ got jobs overseas, and I was just walking around taking up space.

When there is massive unemployment in the black community, it’s called a social problem. But when there is massive unemployment in the white community, it’s called a depression. With the black man, it’s “welfare,” with the whites it’s “subsidies.” This country has socialism for the rich, rugged individualism for the poor. Dr. Martin Luther King Jr.[1

I like when wind works. But in this depression, does anything work? If it’s not unemployed, it’s broken. When I hear the politicians talk, all I hear is them breaking wind through their mouths.

With the economic depression and unemployment at record levels, at least I have an excuse to be a bum. I can blame Washington DC, rather than my lazy sense of entitlement.

Sachs had been heavily influenced by Keynes’s writings on the connection between hyperinflation and the spread of fascism in Germany after the First World War. The peace agreement imposed on Germany had sent it into severe economic crisis—including a hyperinflation rate of 3.25 million percent in 1923—which was then compounded by the Great Depression a few years later. With an unemployment rate of 30 percent and generalized rage at what seemed a global conspiracy, the country was fertile ground for Nazism.