The Great Depression and Franklin D. Roosevelt's New Deal

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The Great Depression and Franklin D. Roosevelt's New Deal

During the 1930's, America witnessed a breakdown of the Democratic

and free enterprise system as the US fell into the worst depression in

history. The economic depression that beset the United States and other

countries was unique in its severity and its consequences. At the depth of

the depression, in 1933, one American worker in every four was out of a

job. The great industrial slump continued throughout the 1930's, shaking

the foundations of Western capitalism.

The New Deal describes the program of US president Franklin D.

Roosevelt from 1933 to 1939 of relief, recovery, and reform. These new

policies aimed to solve the economic problems created by the depression of

the 1930's. When Roosevelt was nominated, he said, "I pledge you, I pledge

myself, to a new deal for the American people." The New Deal included

federal action of unprecedented scope to stimulate industrial recovery,

assist victims of the Depression, guarantee minimum living standards, and

prevent future economic crises. Many economic, political, and social

factors lead up to the New Deal. Staggering statistics, like a 25%

unemployment rate, and the fact that 20% of NYC school children were under

weight and malnourished, made it clear immediate action was necessary. In

the first two years, the New Deal was concerned mainly with relief,

setting up shelters and soup kitchens to feed the millions of unemployed.

However as time progressed, the focus shifted towards recovery. In

order to accomplish this monumental task, several agencies were created.

The National Recovery Administration (NRA) was the keystone of the early

new deal program launched by Roosevelt. It was created...

... middle of paper ...

... After the law

was passed, wages began to rise as the economy turned to war production.

Wages and prices continued to rise, and the original minimum wage ceased

to be relevant. However, this new law still excluded millions of working

people, as did social security. However, a severe recession led many

people to turn against New Deal policies. In addition, World War II

erupted in September 1939. Causing an enormous growth in the economy as

war goods were once again in great demand. No major New Deal legislation

was enacted after 1938.

The Depression was a devastating event in America, and by

regulating banks and the stock market the New Deal eliminated the dubious

financial practices that had helped precipitate the Great Depression.

However, Roosevelt's chief fiscal tool, deficit spending, proved to be

ineffective in averting downturns in the economy.

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