FDR

Modern Presidency Pre-Modern Modern 1933-present 2 nd 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,

GNP Per Capita (relative to trend) J. Bradford DeLong, University of California at Berkeley and NBER

Stock Market

The Depression in the US

“Hoovervilles”

Herbert Hoover,

Governor Roosevelt of NY (with former Gov. Al Smith)

John Maynard Keynes: Modern LiberalismKeynes

Circulation Newmann gets paid!!!!! Newmann gets paid!!!!!!!!!!!! Employee Newmann enrolls buys bagels, at VCU Chinese food, new Pat Metheny CD, sneakers Employee decides Employees of he/she can pay businesses for 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)(text)audio Fireside Chats

1. Government Role in the Economy

The New Deal: Creating JobsNew Deal

Works Progress Administration

New Deal: Regulation National Recovery Administration but… Schechter v. US (1935)Schechter v. US (1935)

New Deal: Redistribution

2. President’s Role

3. Enlargement of the Federal Government

“Presidential Branch” WHONSCWHONSC OMB NEC USTR CEQ OHS OGCOMBNECUSTRCEQOHSOGC WH OfficesWH 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 WHO EOP 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 (72 years) –56 years Republican; –16 years Democratic (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 US Pre- 1933

FDR Character

FDR: Polio

Eleanor Roosevelt