Unemployment Quotes
Two protesters were killed. The demonstration so affected the government that they pressured the Belfast local authorities to announce substantial increases in relief. The economy and the employment picture got no better that year.
Essentially Mellon told the President to let the entire economy crash. With huge numbers of people out of work, labor would be more humble and not only settle for lower wages, but will work harder, and without "excess" income beyond their basic needs, they would not drink and engage in other immoral activities. President Hoover, a wealthy man himself, did not go along with Mellon's idea of making the situation worse, but his conservative philosophy of government would not allow the Government to "interfere" with the private economy or give any direct assistance to the citizens.
This was written in the early years of the Great Depression. Over 25 percent of Americans were out of world. The stock market had crashed and many banks failed wiping out family savings where there was any. Social Security, Bank and Stock Market Regulations were not yet passed. The New Deal government was just starting creating jobs, but there was great concern that the capitalistic system had failed. Thomas and other critics were right that the U. S. Government had not before used its machinery for “ease and security of living”; they called for the adoption of state socialism. President Roosevelt however instead reformed American capitalism by adding substantial regulation, provided direct relief to the unemployed poor, stimulated the economy, created Social Security, Federal Deposit Bank Insurance, unemployment insurance and initiated massive public works programs. It took almost a decade but American Capitalism was saved and transformed to the greatest industrial output and standard of living increase the world had known. It was not until 2008 that the capitalistic American economy melted down again. Regulation of corporations had diminished. The banks failed and had to be bailed out again but as the result of Social Security, Unemployment Insurance and other programs there was some cushioning of the effect of the Great Recession. The middle and lower class insecurity was back along with the wealthy taking a much larger proportion of the national wealth. The big difference was that few called for an end to capitalism and the political debate was on how best to fix the weaknesses of capitalism. Even most socialists around the world had built their Social Democracies around a capitalistic economic structure.
Ford was then 74 years old and had become a very different man than in his youth when he was the hero of labor. He was very paranoid at this time. He even thought that financiers were actually backing the labor unions because their purpose was to go to war against Hitler who Ford greatly admired and supported. See {642379}. He claimed that the way they would do it is to fund the labor unions so most workers would join unions. This he thought would eliminate competition and lower workers’ wages. When workers’ wages were pushed low enough, the workers would demand American entry into the war to create government spending on armaments and a labor shortage to drive wages up again. There was not a single financier who was actually paying or lending any money to labor unions, and most industrialists other than Ford complained that labor unions would always demand higher wages. Ford’s son Edsel was the chief operating officer of Ford Motor Company, and did his best to work around his father to keep the company healthy and deal with a terrible labor relations problem his father caused.
Mormons in later years found this principle difficult to enforce where there was unemployment and workers were idle through no fault of their own. The local Mormon churches were very active in encouraging wealthier Mormons to hire those who were unemployed.
Statement made in response to Jimmy Carter's technical arguments about the economy at a Teamsters convention in Ohio.
FDR assumed office with the Great Depression raging, and rapidly provided relief to destitute Americans—see related quotes.
The Arab countries (with the exception of Jordan) did not allow the Palestinian refugees to work or to establish their own factories or to accept economic development. Any semblance of independence would, the Arab leaders thought, remove pressure to have the refugees returned to Israel. In contrast, hundreds of thousands of Jews were forcibly expelled from the Arab countries and all those refugees who went to Israel were given citizenship and absorbed into the economy and culture.
