Roosevelt’s New Deal
Roosevelt's New Deal refers to a series of economic programs implemented by President Franklin D. Roosevelt in response to the Great Depression. The New Deal aimed to provide relief, recovery, and reform to US citizens and the economy.
The relief aspect of the New Deal included emergency measures to help those immediately affected by the depression. This included the creation of the Civil Works Administration and the Works Progress Administration, which provided jobs for millions of unemployed Americans. Roosevelt also established programs such as the Federal Emergency Relief Administration and the Public Works Administration to provide financial and material assistance to those in need.
The recovery aspect of the New Deal focused on stimulating economic growth and reducing unemployment. This was achieved through measures such as the creation of the Tennessee Valley Authority, which aimed to modernize the region by building dams and promoting electricity generation. The Agricultural Adjustment Act was also passed to address the farming crisis, stabilizing crop prices and controlling production.
The reform aspect of the New Deal aimed to prevent another economic crisis in the future. The Glass-Steagall Act was enacted to separate commercial and investment banking, while the Securities and Exchange Commission was established to regulate the stock market. The National Labor Relations Act was also passed to protect workers' rights to unionize and engage in collective bargaining.
Overall, Roosevelt's New Deal had a significant impact on the US economy and society. It provided relief to millions of Americans, reduced unemployment, stimulated economic growth, and implemented reforms that helped prevent future economic crises. Although the New Deal did not fully end the Great Depression, it played a crucial role in stabilizing the economy and restoring confidence in the government.