The Great Depression:

Introduction

The Great Depression was a significant and harrowing chapter in American history, reshaping the economy, society, and government. It serves as a stark reminder of how interconnected our financial systems are and how the decisions we make today can echo through time. Alarmingly, many of the factors that contributed to the Great Depression are resurfacing in our current climate. This essay will highlight the causes of the Great Depression and draw parallels to contemporary issues, including government deregulation, corruption, the glorification of wealth, and the rise of exclusionary purity movements. With only 4 years away from the 100th anniversary of the beginning of the Great Depression, it behoves us to take a serious sociopolitical look at the parallels of today that have us headed unavoidably to our next one.

The Build-Up to the Great Depression

1. Government Deregulation of Industries

In the 1920s, the U.S. government embraced a laissez-faire approach, believing that minimal regulation would spur economic growth. This led to a booming stock market, but it also created an environment ripe for exploitation, which mostly came at the expense of worker's, their neighborhoods, and the environment. With help from the Federal Government industries and banks operated without oversight, allowing for risky financial practices that ultimately contributed to the stock market crash of 1929.

Fast forward to today, and we see similar trends. Deregulation in various industries—such as banking, energy, communications, social media, AI, and the environment—has once again become the focus of a far-right government majority; evident in the current MAGA GOP Big Beautiful Bill. With fewer regulations, companies can engage in risky behavior without accountability, raising concerns about another potential economic collapse.

2. Corruption and Corporate Greed

During the 1920s, rampant corruption was a widespread issue. Many corporations prioritized profits over ethical business practices, often engaging in fraudulent activities. This culture of greed ushered patrimony into the Federal Government which was exemplified by The Teapot Dome Scandal. Albert B. Fall, the Secretary of the interior, received bribes and kick backs from oil companies, and in return he gave them low cost leases without publication and competition.

Today, we are witnessing a resurgence of corporate greed, and a federal government that not only looks the other way, but supports and proliferates it. While financial and corporate institutions have faced some regulations post-2008 crash, lobbying efforts and political contributions have led to a weakening of these measures with the passing of Citizens United in 2010. The glorification of wealth, driven by reality television and social media influencers, promotes the idea that financial success is the ultimate goal, often at the expense of ethical considerations. Again patrimony is on display with figures such as Elon Musk contributing over $277 MIL to the Trump 2024 Presidential Campaign, which allowed him to eliminate Department of Justice investigations from previous administrations into his financial and business dealings.

3. The Glorification of Money

The 1920s were characterized by a celebration of wealth and materialism. People were encouraged to spend beyond their means, leading to increased consumer debt. The culture valorized those who displayed their affluence, creating a cycle of consumption that was unsustainable. This is how this time period earned the moniker "The Roaring Twenties". Glitz and glam were encouraged to be put on display by the wealthy and social elites. The 20's saw a growing disparity between the wealthiest and poorest Americans, with a dwindling working and middle class.

In our current society, this glorification of wealth persists. The rise of social media platforms has amplified this culture, showcasing lavish lifestyles that many aspire to achieve. With the pressure to keep up appearances, individuals often find themselves in precarious financial situations, reminiscent of the pre-Depression era. We are glued to reality TV and social media, craving the tawdriness and extravagance of other people, while many in actual reality cannot afford basic needs such as shelter, clothing, food, and medical treatments. The commercialization of consumption has most Americans financially underwater, because they are using credit for their basic survival; which has created the biggest credit bubble in history, and all to ready to burst.

The Social and Political Climate

1. Purity Movements and Religious Conservative Values

The 1920s also saw a push for religious conservative values, which influenced various social policies, including Prohibition. The temperance movement aimed to rid society of alcohol, believing it was the root of moral decay. This period also witnessed the rise of eugenics and the 1924 Naturalization Act, which restricted immigration and promoted a narrow definition of American identity. While the rich got richer, and the poor got poorer; the government at the behest of the rich and powerful successfully blamed poor immigrants for the plight their greed and corruption was causing; and they especially contributed immigrant bar patronage and alcohol consumption as the main culprit to the over emphasized moral decay.

Today, we see a revival of purity movements that echo these sentiments. Issues such as immigration, LGBTQ+ rights, and reproductive rights have become battlegrounds for those clinging to conservative values. The rhetoric surrounding these topics often mirrors that of the 1920s, portraying marginalized groups as threats to societal purity. Again these threats all stem from a social paradigm where the middle and working classes are shrinking, the rich are ballooning into Billionaires, and the poverty rate is growing ever larger. The growing anxieties and desperations in society are leading us to look once again for a cause and villain to blame for our troubling economic times, which in reality were created from our decades of unadulterated consumption and glorification of wealth.

2. The Impact of the 1924 Naturalization Act

The 1924 Naturalization Act was a direct response to fears that immigrants posed a threat to American values and jobs. It established quotas that severely limited immigration from non-Western countries, reflecting a nativist sentiment that sought to preserve a homogenous society, which were evident in the slogans of the day of "Shut the Door" and "America must be kept American". As Capitalism sought to employ workers at the lowest possible wage, the immigrants filled this demand; while leaving those that were already generations into being an American losing wages, and over-competing for what meager work was remaining. So, white Americans wanted all competition for labor, and changes to their culture removed from the country. Believing once immigrants were removed wealth and prosperity would follow.

In recent years, similar sentiments have resurfaced, with calls for stricter immigration policies and a focus on "American values." This rhetoric often targets non-white immigrants, perpetuating divisions and fostering a climate of fear and exclusion. We are seeing the resurgence in identifying immigrants as criminals and the cause for Americans lack of opportunity in the United States which chants of "They took our jobs" "Speak English", and "Build the Wall". The immigrant whether documented or not, is being identified as mass perpetrators of violent crimes; however, in reality immigrants are almost 300 times less likely to commit the same violent crimes as American citizens, with 19-39 year old American males committing the largest amount of violent crimes in America year over year.

Lessons for Today

1. Recognizing the Signs

As we reflect on the causes of the Great Depression, it’s crucial to recognize the signs of history repeating itself. Deregulation, corporate greed, and exclusionary movements are not just echoes of the past; they are present-day realities that demand our attention. The saying those that ignore the past are doomed to repeat it, while poignant, is less astute than those of us who know the past are doomed to watch us repeat it. This is where we are now at. Historians, sociologist, and some lawmakers are well aware of how we repeating history, and are trying to sound the alarm. Only to be drown out with obstinate obstruction and vilified by right wind extremists as being "woke". WE again are glorifying the prosperity of a few, and unmitigated consumption and the commercialization of everything.

2. Advocating for Change

To prevent a repeat of the Great Depression, we must advocate for policies that promote ethical business practices, support regulation of industries, and embrace inclusivity. This includes holding corporations accountable, pushing for transparent governance, and fostering a culture that values community over individual wealth. We must turn our collective focus from a quantitative society, to a qualitative one. We must advocate for less consumption and competition, and for more compromise and cooperation amongst ourselves. From a biblical perspective, this would be the moment where Jesus kicks over the tables in the temple, as we are compromising our values and humanity for the profits of commerce. We must realize that it is time to do with less, but help each other more; and ultimately denounce the paradigm that those who are the wealthiest amongst us, are the most righteous amongst us.

Conclusion

The Great Depression serves as a powerful reminder of the consequences of unchecked greed, corruption, and exclusionary practices. As we navigate the complexities of our modern world, let’s learn from the past and strive for a more equitable future. By recognizing the signs and advocating for positive change, we can work together to prevent history from repeating itself. Let’s not just reflect on history—let’s shape our own narrative. In a society where inconsideration has become a virtue, only to be accompanied by the motto "Don't Tread on Me, I Tread on You" we must take immediate steps to promote empathy and compassion amongst ourselves and forge a culture that seeks to replace the priority of personal gain, with a focus on shared efforts for a better society. Let's start Operation Cooperation today to ensure a brighter tomorrow.