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We finish chapter two of Leo Panitch & Sam Gindin's "The Making of Global Capitalism: The Political Economy of American Empire" with a discussion of the Great Depression, FDR's "sane radicalism," and the two phases of the New Deal. We also read some of Robert Heilbroner's Worldly Philosophers.

CHAPTERS.

00:00 Introduction

09:02 The Great Depression

22:34 FDR's "Sane Radicalism"

28:49 The First New Deal

40:45 The Second New Deal

45:12 A Truce with Capital

48:55 Outro

SOURCES

- Leo Panitch & Sam Gindin's "The Making of Global Capitalism: Political Economy of American Empire"

- Eric Hobsbawm's "The Age of Extremes"- Robert Heilbroner's "The Worldly Philosophers"

- Federal Reserve History: Emergency Banking Act of 1933 https://www.federalreservehistory.org/essays/emergency-banking-act-of-1933

- Federal Reserve History: Glass-Steagall https://www.federalreservehistory.org/essays/glass-steagall-act

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Figuring things out through slow-motion reading series. "Solid Air" works through political economy x history. "Invisible Hands" covers the lives and theories of economists. "Reading Room" is an excuse for a friend and me to read and talk about philosophy or literature. Every third episode is on Patreon, but not really - there's a "free feed" just a click away. This is a self-education project, and nothing more.In the Solid Air series, we dig into Panitch & Gindin's "The Making of Global Capitalism" and then take two "detours" into other texts. Rinse and repeat. For those detours, we tend to focus on Eric Hobsbawm, Robert Heilbroner, David Harvey, and Garry Gerstle - but we've also read first-hand texts from the time, like John Maynard Keynes' Economic Consequences of the Peace or Frederick Winslow Taylor Principles of Scientific Management.