2.1 What Made the Old Social Contract Work and Why did It Break Down?

2.1 What Made the Old Social Contract Work and Why did It Break Down?

There are conspicuous challenges for today’s economy but, in some ways, we’ve actually been here before! As we stressed last week, it helps to take a historical perspective in order to understand the current state of the economy and the challenges that we collectively face. In the video below, Professor Kochan examines a series of historical events, including rising wealth inequality in the 1920s and the Great Depression, that remain highly relevant today.

Video: The New Deal at Work

Attentiveness Question 1

 Michael Thompson  close
 Marie Curie  close
 Frances Perkins  check
 Carrie Lynchpin  close
Check

Attentiveness Question 2

 Unemployment Insurance  close
 Fair Labor Standards Act  close
 Capital Gains Taxation  check
 Social Security  close
Check

Attentiveness Question 3

 Secured paid maternity leave for women in the workforce.  close
 Established a minimum wage.  close
 Provided temporary assistance for workers who become unemployed.  close
 Promised workers the right to organize into unions.  check
Check

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