Three things I learned this week when reviewing 'The Evolution of Social Welfare Policy' timeline link:
1) Slavery began in the American Colony in 1700 A.D. when poor were auctioned off to affluent businessmen and farmers. Impotent poor lived in Almshouses while able-bodied poor were confined to workhouses.
2) For the months of September and October investors lost $100 billion in assets and the stock market lost 40% of its value. On October 28, 1929 the stock market suffered a 13% loss, The next day, October 29, 1929 suffered a 12% with 164 million shares traded. This event marked the beginning of the Great Depression and was called Black Tuesday. By July of 1932, the stock market value had lost 90% bottoming out. It took 22 years to completely recover.
3) The Watts Riot in Los Angeles on August 11, 1965. The Watts Riot broke out in initial response to a highway Patrol officer pulling over a black motorist on suspicion of drunk driving. This riot resulted in 34 dead, 1,000 people suffered injuries, and 600 buildings damaged. The real reason for the riots was jobless rates, continued racism, poor housing, and inadequate inner-city schools. The good that came out of this riot was that President Johnson signed the "War on Poverty" a month after the riots broke out.
1) Slavery began in the American Colony in 1700 A.D. when poor were auctioned off to affluent businessmen and farmers. Impotent poor lived in Almshouses while able-bodied poor were confined to workhouses.
2) For the months of September and October investors lost $100 billion in assets and the stock market lost 40% of its value. On October 28, 1929 the stock market suffered a 13% loss, The next day, October 29, 1929 suffered a 12% with 164 million shares traded. This event marked the beginning of the Great Depression and was called Black Tuesday. By July of 1932, the stock market value had lost 90% bottoming out. It took 22 years to completely recover.
3) The Watts Riot in Los Angeles on August 11, 1965. The Watts Riot broke out in initial response to a highway Patrol officer pulling over a black motorist on suspicion of drunk driving. This riot resulted in 34 dead, 1,000 people suffered injuries, and 600 buildings damaged. The real reason for the riots was jobless rates, continued racism, poor housing, and inadequate inner-city schools. The good that came out of this riot was that President Johnson signed the "War on Poverty" a month after the riots broke out.
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