The Great Society: A New History | Amity Shlaes

Added:

Ambitious Goals
Federal Shift
Defining Programs
Knowledge Failure
Civic Erosion
Family Impact
Moral Markets
Union Decline

Ambitious Goals

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Playing Section
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    The Great Society was more ambitious than the New Deal, aiming to cure poverty.

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    Unlike the New Deal's emergency, the 1960s economy was prosperous.

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    The promise to end poverty did not succeed, as rates leveled off.

Familiarity with the New Deal: Understanding Franklin D. Roosevelt's 1930s economic initiatives and how they fundamentally expanded the role of the federal government in the U.S. economy.
Overview of the Great Society: Knowing the core objectives of Lyndon B. Johnson's 1960s domestic programs aimed at eliminating poverty and racial injustice, specifically Medicare, Medicaid, and federal education funding.
Basic Principles of Public Policy and Economics: Understanding key economic concepts such as fiscal policy, national debt, inflation, and the distinction between mandatory entitlement spending and discretionary spending.
The Concept of Unintended Consequences: Understanding the sociological and economic theory that government interventions can produce unexpected, and sometimes detrimental, side effects that counter their original goals.
The Rise of Modern Conservatism: Exploring how the perceived failures and high costs of the Great Society contributed to the political realignment of the late 1970s and the rise of 'Reaganomics' in the 1980s.
Contemporary Entitlement Reform Debates: Analyzing current legislative and economic arguments surrounding the sustainability, funding, and reform of modern U.S. welfare and healthcare programs.
Empirical Welfare Economics: Studying modern, data-driven evaluations of poverty-alleviation programs to understand which policy designs successfully encourage upward mobility versus those that create welfare traps.
Comparative Economic History: Conducting a deeper, comparative analysis of 20th-century economic crises (e.g., the Stagflation of the 1970s vs. the Great Depression) to see how monetary and fiscal policies responded to welfare state expansion.
26.8K views747likes1:02:19@hillsdalecollegeOriginal Release: 2020-01-09

Amity Shlaes argues that the Great Society, despite its ambitious goals of curing poverty and expanding federal programs, failed due to several interconnected factors: the absence of genuine economic crisis unlike the New Deal era, the centralization of power in Washington that undermined local solutions, the unintended consequences of welfare policies that discouraged marriage and family stability, and the inherent limitations of government planning identified by Friedrich Hayek's 'knowledge problem.' She contends that the private sector, exemplified by companies like General Electric and Intel, could have addressed social problems more effectively through market mechanisms rather than federal programs.