The stock market crash of 1929 is usually cited as the beginning of the Great Depression. The crash wiped out many people’s investments. Many banks failed and with them went entire savings accounts. During the first week of the Depression, the stock market lost $30 billion. This amount was more than the United States spent fighting World War II. By 1933 the value of the stock market was less than one fifth of what it had been at its peak in 1929 and at the end of the depression it had fallen by 89%. After the crash, the Federal Reserve exacerbated the problem. It cut the money supply by a third. As a result, many banks suffering liquidity problems defaulted and simply went out of business.
In 1932, approximately one out of every four Americans was unemployed. The unemployment rate reached an astounding 24.9%. Toledo, Ohio hit an unemployment rate of 80%. Bread lines were common place all over the country. The unemployed roamed the country in search of food, work, and shelter.
In 1933 the new president, Franklin Roosevelt, rode into office bringing a sense of confidence and optimism. “The only thing we have to fear is fear itself,” the president said in his inaugural speech. Along with him he brought the New Deal. The New Deal established goals to maintain public works, full employment, and healthy wages through price and wage controls. The New Deal was based on Keynesian economics which theorizes that the government can stimulate the economy. The New Deal was enacted at record speed but it suffered from being weakly administered and poor oversight.
One of the hardest hit sectors in the economy was agriculture and, initially, the New Deal made it worse for farmers. Seven-hundred and fifty thousand farmers declared bankruptcy during the Depression. At the heart of the agriculture plan was the idea to raise crop prices by paying farmers a subsidy to compensate for voluntary cutbacks in production. By the time the plan was implemented, however, the growing season was already underway. Farmers were then told to destroy their crops and to not use the land. Little did the government know that a drought was on its way. The double whammy of a drought and miles of unused farmland resulted in what is now known as the “Dust Bowl.” Violent winds and dust storms drove people out of the plains states and into California. To counter the dust bowl, the government established the Soil Conservation Service. Farmers were taught about measures to reduce erosion and 30,000 kilometers of trees were planted to break the winds that blew across the plains.
To counter unemployment, the Civilian Conservation Corps were created. The CCC enrolled jobless men between the ages of 18 – 20 years of age. The men worked in camps for about $30 a month. These men planted trees to fight soil erosion. They also created fish and game sanctuaries.
The Great Depression forms the setting in which the events, of O Brother, Where Art Thou? takes place. The Depression affected every aspect of life including personal entertainment. Because radios were cheaper, and could be bought on credit, theatre ticket sales dropped while radio sales increased. This in turn, allowed mass communication to reach American homes like never before. By the time the Depression ended, there were over 600 radio stations broadcasting news, music, and entertainment programs. Radio is closely tied to one of the films major themes: the moral development of McGill. As seen in O Brother, Where Art Thou?, radio is the medium that makes the Soggy Bottom Boys famous, and this fame ultimately comes around full circle when the Governor, Menelaus Pappy O’Daniel, grants the heroes a pardon. McGill’s moral transformation is rewarded and is now “bona fide” in the eyes of society but, more importantly, in the eyes of his wife and children.
The major commonality between the film and Homer's epic poem is the setting in which the characters live and what that setting makes available to them. For McGill, the Depression provides the setting, and opportunities, that allow him to look back on his life and make the necessary adjustments to become more humble and morally grounded. From Big Dan, to George Nelson, it almost seems as if a higher power is showing McGill and his colleagues who not to act like. Likewise, for Odysseus, his setting, which is being stranded and at the mercy of the gods, affords him the chance to look back at his life and realize that ultimately, he is responsible for his current situation and must modify his behavior.
No comments:
Post a Comment