After the stock market crash, some New York editors suggested that hearings be held: what had really caused the Depression? They were held in Washing… - Studs Terkel

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After the stock market crash, some New York editors suggested that hearings be held: what had really caused the Depression? They were held in Washington. In retrospect, they make the finest comic reading. The leading industrialists and bankers testified. They hadn’t the foggiest notion what had gone bad. You read a transcript of that record today with amazement: that they could be so unaware. This was their business, yet they didn’t understand the operation of the economy. The only good witnesses were the college professors, who enjoyed a bad reputation in those years. No professor was supposed to know anything practical about the economy.

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About Studs Terkel

Louis "Studs" Terkel (May 16, 1912 – October 31, 2008) was an American author, historian and broadcaster.

Biography information from Wikiquote

Also Known As

Alternative Names: Louis Terkel
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Additional quotes by Studs Terkel

We thought of the poor, at that time, as quite divorced from us, who were not poor. By the exercise of one’s charity, life could be made all right. You would always have the poor with you, they were the unfortunate, and you made donations. You could handle them. It was mildly unpleasant, but not fundamentally upsetting. Now, for the first time, we face the dreadful reality that we are not separated. They are us. They are something we have made. There is no conceivable way today to say: Fish, and you’ll be all right. In hurt, in anguish, in shock, we are becoming aware that it is ourselves, who have to be found wanting, not the poor.

It was in ’35 — we had this campaign to raise a million tax dollars. In the town of Phillips, one evening, during a blizzard, I was met by a crowd of miners. They were given the day off and a stake to attend this meeting. They surrounded me and said this tax would cost six hundred of them their jobs. They were busted farmers and fortunately found a job in these Home Stake mines. I went back home feeling worried. But the tax was passed, and not a single miner lost his job.

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