In the Driver's Seat: Juanita Morris Kreps

Episode Summary

Title: In the Driver's Seat: Juanita Morris Kreps This episode of Encyclopedia Womanica focuses on the life and career of Juanita Morris Kreps, a pioneering economist and policymaker. Kreps served as the first female director of the New York Stock Exchange and the first woman Secretary of Commerce. She grew up during the Great Depression in Kentucky, which sparked her interest in economic reform. After earning advanced degrees in economics, Kreps taught at several universities while researching issues affecting women and older workers. In the 1970s, she broke barriers by becoming the first woman appointed to high-level business and government positions. As Secretary of Commerce under President Carter, she advocated for social responsibility in business. Though her cabinet role was unappreciated, Kreps continued to raise awareness of workers' struggles. She strove to create economic change despite the challenges she faced as a woman in male-dominated fields.

Episode Show Notes

Juanita Morris Kreps (1921-2020) was the first female director of the New York Stock Exchange and the first woman Secretary of Commerce; she dedicated her career to holding corporations to higher standards.

Episode Transcript

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SPEAKER_10: Download the Drop app and get $5. Use invite code GETDROP222. SPEAKER_06: This Women's History Month Encyclopedia Womanica is brought to you by Mercedes-Benz. Mercedes-Benz celebrates women who prove there are no limits to what anyone can accomplish. The women's history month is a special day for women who are in the SPEAKER_03: world of sports. Mercedes-Benz celebrates women who prove there are no limits to what anyone can accomplish. In 1962, Evie Rouskfist and her Mercedes-Benz 220 SE competed in the Argentine Grand Prix, a grueling race attracting the world's toughest men. Nobody thought she could finish, but she proved them wrong. Tune in tomorrow for a special episode on this unexpected champion and how she shattered the stereotype that women couldn't compete in the sport. Hello from Wonder Media Network. I'm Jenny Kaplan, and this is Encyclopedia Womanica. Today we're diving into the life of a groundbreaking economist. As the first female director of the New York Stock Exchange and the first woman secretary of commerce, she dedicated her career to holding corporations to higher standards. Though her work was often overlooked and underappreciated, she never lost sight of her desire to change the world. Today we're talking about Womanita Morris Kreps. Womanita was born Clara Womanita Morris on January 11, 1921, in the coal-rich Appalachian Mountains of eastern Kentucky. Womanita's father, Elmer, ran a small independent mine. Womanita was her parents' sixth child. When she was 10 years old, her hometown became embroiled in the Harlan County War. In 1931, coal bosses cut the already impoverished miners' pay by 10 percent. When the miners tried to unionize, it sparked a violent, decade-long battle. Though Womanita's father was in management and had to bargain with workers, he was sympathetic to their situation. Most of Womanita's family sided with the miners. Womanita would later remember the period as one of fear and bloodshed. Womanita's parents had divorced when she was four years old, and she lived with her mother until the age of 12, when she was sent to a Presbyterian boarding school. Growing up during the Great Depression sparked an interest in driving economic reform. Womanita saw education as a path towards change. At Berea College in Kentucky, Womanita studied economics and graduated with honors. She went on to earn her master's degree in economics from Duke in 1944, followed by a doctorate in 1948. She married William Kreps, an economics professor, in 1944, and they both taught at various schools in the subsequent decades. For her, this included Denison University, Queens College, and Duke University. In 1972, Womanita was awarded Duke's most prestigious chair position, and in 1973, she was appointed the university's vice president. Womanita was interested in labor struggles and their intersection with gender. In her work, she specialized in the labor demographics of women and older workers. In 1971, she released a book titled Sex in the Marketplace, American Women at Work. In it, she explores why women were entering the same monotonous jobs year after year, and why so few had advanced degrees. She wrote, they continue to staff the clerical jobs, SPEAKER_03: the elementary classrooms, and the sale rooms. They're almost never vice presidents or high school principals or hospital administrators. Womanita took some time off work to raise her children in the 1950s. Though she later said she didn't regret the decision, she did say in 1986, I think what it did was put me a few years behind the level of achievement that many young women expect today. Despite any setbacks she may have felt, Womanita continued to excel. In 1972, she was the first woman to become director of the New York Stock Exchange, an enormous achievement in a male-dominated industry. She was also appointed to many boards of large companies. Then in 1977, Womanita was one of two women appointed to President Jimmy Carter's cabinet. She served as the United States Secretary of Commerce and was the first woman and the first economist to hold that position. A longtime Duke colleague, Crawford Goodwin, told the LA Times, it was an unusual appointment since most commerce secretaries at that time were businessmen who just wanted that line on their resume. She wasn't in the inner circle in Washington, but she was very self-confident and didn't take any nonsense from anybody. It was perhaps the most unappreciated job in the cabinet. During a time of rising inflation and unemployment, Womanita became a key figure in the president's circle of advisors, helping Carter strengthen relationships with corporate leaders. But she also emphasized the importance of businesses acting with a greater concern for social responsibility beyond profit. She was an advocate for women and older workers, the unemployed, and minority-owned businesses. Then familial duty called. Womanita served until late October of 1979, ending her time in office after her husband suffered an apparent suicide attempt. Womanita continued to teach at Duke and earned many awards and honorary degrees in the years after her time in the presidential cabinet. Influenced by the economic poverty of her childhood, Womanita raised awareness of the challenges faced by workers, often ignored by those in power in the business world. Womanita Morris died on December 14, 2020, at the age of 82. All month, we're talking about women in the driver's seat. For more on why we're doing what we're doing, check out our newsletter, Womanika Weekly. Follow us on Facebook and Instagram at Encyclopedia Womanika. Special thanks to Liz Kaplan, my favorite sister and co-creator. Tune in tomorrow for a special bonus episode brought to you by Mercedes-Benz. Talk to you then. 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