A New Deal - Deepstash

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In a nutshell: the Great Depression

A New Deal

In 1933, then-President Franklin Roosevelt promoted his recovery path of Relief, Recovery and Reform, to give shape to the slow and arduous reform process that will take decades.

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Two of the biggest innovations
Two of the biggest innovations

Two of the biggest innovations of modern times are cars and airplanes. At first, every new invention looks like a toy. It takes decades for people to realise the potential of it.

Innovation is driven by incentives

There are three types of incentives:

  1. "If I don't figure this out, I might get fired." It will get you moving.
  2. "If I figure this out, I might help people and make a lot of money." It will produce creativity.
  3. "If we don't figure this out now, our very existence is threatened." Militaries deal with this, and it will fuel the most incredible problem-solving and innovation in a short time.

During World War II, there was a burst of scientific progress that took place. The government was in effect saying that if a discovery had any possible war value, then it had to be developed and put in use, regardless of the expense.

The conditions for big innovations to happen

The biggest innovations seldom happen when everyone's happy or safe. They happen when people are a little panicked and worried, and when they have to act quickly.

In 1932, the stock market fell by 89%. It was an economic disaster where almost a quarter of Americans were out of work. However, the 1930s was also the most productive and technologically progressive decade in history. Economist Alex Field writes that in 1941, the U.S. economy produced almost 40 percent more output than it had in 1929, with little increase in labor hours or private-sector capital input.

Using free time

Since the WHO declared the new virus a pandemic and officials have urged people to stay home as much as possible, many Americans have suddenly found themselves with more free time and limited ways ...

William Shakespeare

William Shakespeare was an actor and shareholder with The King's Men theater troupe when the bubonic plague forced London theaters to close.

The theater industry was out of action for much of 1606. After suddenly finding himself without a steady job and lots of free time, Shakespeare wrote King Lear, Macbeth, and Antony and Cleopatra before the year was over.

Isaac Newton

In 1665, during one of the last major outbreaks of the bubonic plague in England, classes at Cambridge University were canceled, and Newton had to retreat to his family estate.

With zero structure, the young mathematician produced some of his best work during his year in quarantine, writing papers that would become early calculus and developing his theories on optics while playing with prisms in his bedroom. The theory of gravity also germinated during this time.

Economic Free Fall
Economic Free Fall

The current pandemic has led to an economic free fall which is unparalleled in history. In the US alone, the unemployment rate plummeted at such a speed that more than 10 million have claimed unemp...

The Lockdown: U.S.

The Pandemic Lockdown in the U.S. directly affects the livelihood of a shocking 80% of American workers who work in retail, real estate, education, entertainment and restaurants.
Many of these offices and stores are not going to open after that.

The Lockdown: Europe And Asia
  • In Europe, The north of Italy, which is the main tourist hub, is seeing a collapse in economic activity, along with Germany, which is falling at a steeper rate than the United States. Even countries like Japan, which are not hit that hard, are about to witness an apocalyptic fall.
  • In India, with the abrupt 21 days shutdown, which was recently extended by another 19 days, only a small percentage of the 1.3 billion population is covered by any social security, and millions of daily wage or migrant workers, have no hope, future or place to stay.