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FDR
Modern Presidency
• Pre-Modern 1789-1932
• Modern 1933-present
• 2nd American republic?– Theodore Lowi, The Personal Presidency
Real GDP (per working age person)
• Timothy J. Kehoe Professor of Economics, University of Minnesota and Adviser, Federal Reserve Bank of Minneapolis, http://www.econ.umn.edu/~tkehoe/
GNP Per Capita (relative to 1889-1929 trend)
J. Bradford DeLong, University of California at Berkeley and NBER http://econ161.berkeley.edu/TCEH/Slouch_Crash14.html
Stock Market
http://www.affordablehousinginstitute.org/blogs/us/Stock_market_crash_1929_small.jpg
The Depression in the US
“Hoovervilles”
Herbert Hoover, 1929-1933
Governor Roosevelt of NY(with former Gov. Al Smith)
CirculationNewmann gets paid!!!!! Newmann gets paid!!!!!!!!!!!!
Employee Newmannenrolls buys bagels,at VCU Chinese food,
new Pat Metheny CD,
sneakers
Employee decides Employees ofhe/she can pay businessesfor college near VCU
get paid
Business Cycle
Boom-Bust cycle
Self-regulating
But, what if….
Non-self-regulating
FDR’s New Deal• FDR Inaugural Speech (text) (audio of
oath of office and inaugural speech)
• Fireside Chats
1. Government Role in the Economy
The New Deal: Creating Jobs
Works Progress Administration
New Deal: RegulationNational Recovery
Administration
but… Schechter v. US (1935)
New Deal: Redistribution
2. President’s Role
3. Enlargement of the Federal Government
“Presidential Branch”
WHO NSC OMB NEC USTR CEQ OHS OGC
WH Offices (Counsel, Communications….)
WHO-White House Office; NSC-National Security Council; OMB-Office of Management and Budget; USTR-Office of US Trade Representative; CEQ-Council on Environmental Quality;
OHS-Office of Homeland Security; OGC-Office of Global Communications
Executive Office of the Presidency (EOP)
Three Layers of Executive Branch
WHOEOP
Appointees in Executive Branch
Career Bureaucracy
4. Precedents
• 100 Days
• New Deal as a new social contract
• President as provider of services – Not Congress
– Not federal government
5. Electoral Realignment
• 1860-1932 (72 years)– 56 years Republican; – 16 years Democratic
• 1932-1980 (48 years)– 32 years Democratic; – 16 years Republican
Atlas of Presidential elections
New Deal Coalition• Democratic South
• African-Americans
• Union members
• Urban North
• Immigrant/newer ethnic groups
• Farmers
• Socialist parties voters
Effect of FDR on US Political Culture
Left Right
Left-right defined as accepted level of government intervention in the economy:
right = less intervention
left = more intervention
USPre-1933
FDR Character
FDR: Polio
Eleanor Roosevelt