jan 1, 1933 - (Topic 7.10):The New Deal

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President Franklin D. Roosevelt
The New Deal, led by President Franklin D. Roosevelt, focused on three key goals: Relief, Recovery, and Reform. Relief efforts like the FERA provided immediate help to those suffering. Recovery programs like the PWA helped rebuild the economy by creating jobs. Finally, Reform measures such as the SEC and FDIC were designed to prevent future economic crises and protect Americans’ financial security

FDR’s Bank Holiday temporarily closed all banks to prevent further failures and restore confidence in the banking system. The Federal Deposit Insurance Corporation (FDIC) was created to protect bank deposits, ensuring that people would not lose their money if a bank failed. The Public Works Administration (PWA) created jobs by building infrastructure like roads and bridges, which helped improve the country and provide employment. The Tennessee Valley Authority (TVA) worked to develop the Tennessee Valley region by constructing dams, creating jobs, and providing electricity to rural areas. The Securities Exchange Commission (SEC) regulated the stock market to ensure fairness and prevent fraud. The Fair Labor Standards Act set rules for wages, working hours, and banned child labor, protecting workers. The Social Security Act provided pensions for older people, offering financial support after retirement. Lastly, Keynesian Economics encouraged government spending to boost the economy and create jobs.

However, the New Deal faced criticism. Liberal critics argued that FDR did not do enough to help the poor, calling for more programs to address their needs. Conservative critics believed that the New Deal gave too much power to the government, interfering with businesses and individual freedoms. The Supreme Court also opposed certain New Deal programs, declaring them unconstitutional, as the government was seen as overstepping its role in state matters.

The Great Depression caused the economic hardship that led to the introduction of the New Deal. While it brought significant changes, such as new government programs and regulations, it didn’t fully end the depression until World War II. The New Deal marked a change in the way the government interacted with the economy and people’s lives, and some of its programs, like Social Security, still continue today, showing continuity in how the government supports citizens.

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