Remembering What Matters

     Photograph of Works Progress Administration Worker Receiving Paycheck. Local Identifier: 69-N-19626; National Archives Identifier: 594956           Sandwiched between World War I and World War II lays one of the worst economic depressions in the history of the United States. After World War I, unlike other countries, the American economy was left intact, leading to a decade of prosperity and an overabundance of spending. So, what caused the most significant depression in American history? More importantly, what factors caused the American economy to awaken and roar back to life? Economists and historians alike have different ideas about what caused the great crash and what factors led to the revival of the American economy. To better understand this period in history and attempt to answer these questions, today's discussion will focus on the Keynesian Theory of Economics. Advertisement in Newspaper       Before gettin...

               The American dream is often seen as a tale from long ago that only special people could achieve. It is in the DNA of Americans to cheer for the underdog or the rags to riches stories. Annie Turnbo-Malone is one such turn-of-the-century rags to riches story. While many may be familiar with her protégé Madam C.J. Walker, it was Annie Malone who paved the way and brought African American hair care and beauty products to the market in the early 1900s. Annie would become the first African American female millionaire and philanthropist within a few short years. The question begs how did orphan Annie go from destitute to millionaire in such a short time.   Annie Turnbo Malone. [UMSL Black History Project Photograph Collection (S0336)]                 Annie Turnbo-Malone was born in 1869 to former slaves, her father even fought for the Union during the Civil War. By the time Annie ...

            When it comes to economic history, it is often thought that one must use fancy words that only business experts can understand to make a case about the economy or a business. The truth is that economist can tell the economic story or impact of a company much in the same way historians would tell any story about the past. Donald McCloskey argues that the economist is like the storyteller of business. In fact, according to McCloskey, storytelling is how historians make sense of the past.  He says it is the history of historical sciences regarding economic history. [1] For the curious mind discovering the roots of, say, their favorite soft drink could be just as exciting as discovering the Gross National Product of Switzerland in 1944. Economic and entrepreneurial history lead us to discover the foundations of activities and even foods we consume daily. Have you ever thought of where Coca-Cola or Dr Pepper originated? Instead of focusing...