6 Little-Known Crises And Lockdowns Of U.S. History - burst 6


In particular on. Your show is a massive economic panic because one thing that people especially a few weeks ago when when the Dow was very very low a lot of people were saying. Well we're going to lose the whole economy to this and that's the real crisis and I think people know about the Great Depression and they might be aware that there was a recession in our lifetimes but other than that they don't know about the many many many other economic panics and history In particular the panic of eighteen ninety three nobody thinks about eighteen. Ninety three is a year. It's just back there but it was one of the most astonishing economic crises ever. Yeah I actually think it gives you a sense of how catastrophic the Great Depression was that it was able to historically just wipe out the memory of these really catastrophic panics of the late nineteenth century. These are things that are happening like every twenty years. You were having these massive economic collapses at that. Were not only upending the economy. But like you're talking about a time when most Americans live in poverty and so to lose your job to have the economy goes. South is something that put most Americans at risk in a very existential kind of way and so that. We don't have a strong historical memory of this. I think is a testament to how bad the depression of the nineteen thirties was. I think the political dynamic dimension of eighteen hundred years really interesting as well and the way intersects with the economic collapse the fact that we have Sort of gilded age pivoting into the start of the progressive era. And then we have. We talked about this on the show. But you know it's really like these moments where it's not just an economic collapse or political turmoil but it is this real sense that the country is turning from one country to another and in this case 1883 you know an agrarian economy to. Amman industrialized economy. And I would argue. That's really kind of in the background of this moment. Now to just this sort of uneasiness. What are we as a country? What is the thing that we do and When you have those questions lingering it just like causes all these sort of bigger dimensions and causes bigger fishers when you do have an economic slowdown or a pandemic or sort of heightened political moment and for the first time in a real way during the eighteen ninety three crisis you get people asking. What should the government be doing to protect people from these kinds of crises because before it was sort of like everyone's on their own

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