Summer School 7: The Great Depression, the New Deal and how it changed our economy

This podcast episode delves into the intricacies of the Great Depression, emphasizing the constraints imposed by the gold standard on economic recovery and the transformative decisions made by leaders like FDR. By abandoning the gold standard, Roosevelt enabled the government to manage the economy more effectively, paving the way for the New Deal's broad interventions aimed at stabilizing capitalism. The discussion further highlights the influence of Keynesian economics in reshaping fiscal policies and the significant role of labor unions, demonstrating both their rise during this turbulent period and the subsequent decline in union membership, ultimately underscoring the importance of understanding economic history to address modern challenges.