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The New Deal - Essay Example

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Name of the Student History and Political Science Name of the Teacher November 15, 2013 The New Deal Franklin D Roosevelt got elected as the President of the United States of America in the year 1932, running on an election campaign promising a New Deal to the citizens of the nation…
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The New Deal

Download file to see previous pages... The governments before Roosevelt believed that the people should stick with and support the state through tough and bad times. In that context Franklin D Roosevelt set a new precedent by holding that it is the state that should come to the rescue of the masses in times marred by economic downturn and the subsequent issues and difficulties, supported by his “conception of government power as a force to be utilized aggressively.”1 It goes without saying that Franklin D Roosevelt was not alone in determining the broader framework of the New Deal, but rather he was advised and supported by an array of academic scholars and liberal experts, who were referred to as the ‘brain trust’. The purpose of coming out with the New Deal was to chart out the best course of action for the nation struggling with widespread economic downturn. Hence, the first hundred days of Franklin D Roosevelt’s ascendency saw the initiation of an array of bills aimed at resuscitating the economy by reducing poverty, curtailing the rate of unemployment and to assure a speedy recovery of the economy that was down and sick. In that context it is totally true to claim that the New Deal did a lot in putting the American economy back on the track by correcting the systemic problems marring the economy and by curing the attendant flaws and anomalies. Before delving on the beneficial impacts of the New Deal on the American economy, it is utterly relevant to consider the ailments that were imminent on the American economy before the New Deal came into existence. Before the New Deal was initiated, people all across America were under the sway of a depression ridden economy and were facing a range of issues and problems. By 1929, the American economy was suffering from a state of Depression that was marked by a dearth of money in the economy and a very high rate of unemployment. The fall of the stock markets helped this state of economic downturn graduate to what is popularly known as the Great Depression. The citizens who had invested in the stock markets not only lost their investments, but also ended up being in a state of dearth and unemployment. With the loss of their investments, people found it totally impossible to pay their personal bills and bank loans. Moreover, the Great Depression also badly influenced the nation’s banks and financial institutions. With the banks closing their doors, people lost most of their savings. With the inability of the masses to invest in the economy and not being in a position to purchase goods and services, the businesses also got sick and consequently many businesses had to shut down owing to a dearth of revenue and capital. Thereby, President Franklin D Roosevelt was quiet aware of the fact that he was being elected in an economic scenario that was bleak and depressing and that the people expected him to come out with measures that could resuscitate the economy and bring the things back on the track. Hence, the New Deal contrived by the Roosevelt government was a direct response to the expectations and aspirations of the masses and it did a lot to rescue the depression ridden national economy because, “during the campaign he had preached that the Federal government would have to assume an unprecedented role in delivering relief to the destitute and stern discipline to the business community…. “ 2 It is a fact that during the Great Depression, the citizens had not only lost the ...Download file to see next pagesRead More
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