How the New Deal Transcends Mere Economic Statistics

analytical Essay
1650 words
1650 words

The Great Depression of the 1930s is a period in history that will never be forgotten all around the world. It is described as the worst economic slump ever to have an effect on the United States, and as a result the rest of the industrialized world. The Depression brought with it a number of consequences for instance a huge decline in the standards of living of the working class, the disintegration of numerous nations' economies and mass political disturbance and division. The Great Depression was most likely the most distressing economic catastrophe in history of the United States. As the 1920s continued, a number of people were forced to face severe problems that threatened the economy. In spite of the fact that quite a few people became wealthy, several others could hardly scrape up to maintain a satisfactory living standard. Numerous significant businesses struggled to survive. Consumers were caught with deep debts. As the 1930s drew near, it was obvious that the economy was wavering. The definite cause of the Great Depression is not only the simple Wall Street crash, but there are numerous other factors like the decline in foreign trade, the overproduction of goods as well as the uneven distribution of wealth during the 1920s. Consequently, attempts to discover ways out of this global catastrophe were the source of a great deal of discussions and disagreements for much of the depression period. The apparent wealth of the late 1920s obscured a lot of weak points that would indicate the commencement of the Great Depression. Numerous events suggested the start of the depression. Industries for instance railroads, textiles, and steel could hardly manage to generate an income. New kinds of transportations like trucks, buses,... ... middle of paper ... ...nto an active instrument of social justice and laws to protect Americans from excesses of liberal capitalism. Thus, greatest success of New Deal lay in the fact that it gave hope to the people and they were happy that a man had stood up for them. This faith and hope gave a huge boost to the American public. If figures of 1933 are taken as a baseline for study, there was a significant rise in consumer confidence and private investment in subsequent years. The New Deal programs and Great Depression ended because of increase spending during World War II. This can be termed as an intensified version of government policies in the New Deal. In the short term, it can be said that New Deal alleviated those suffering most from the events of Depression. In the long run, it set a precedent for government interference to take control of social and economic affairs of a nation.

In this essay, the author

  • Explains that the agricultural adjustment act raised crop prices by eradicating surplus generated. the government rewarded farmers $200 million to cultivate less than 10 million acres of crop.
  • Explains that civilian conservation corps provided employment opportunities to young men to build up parks, plant trees, and other projects to avoid another dust bowl.
  • Explains that nira provided money to several states to offer employment in the construction of community buildings.
  • Explains that it provided insurance to people who were retired and of the age of 65 years or older.
  • Describes the great depression as the worst economic slump ever to have an effect on the united states and the rest of the industrialized world.
  • Explains how the great depression impacted america's economy, and how other european countries faced high war debts.
  • Explains that president herbert hoover was opposed to any type of federal welfare. he and directors of business, banking, and labor worked collectively to improve the economy.
  • Analyzes how the second new deal helped the economy by spending at the bottom, and the national labor relations act prevented intimidation and coercion in breaking up unions.
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