Class notes
New Deal Essay
- Course
- History
- Institution
- 11th Grade
How Franklin Delano came to power through a pledge ' I pledge you I Pledge myself to the New Deal'
[Show more]
Seller
Follow
Content preview
HOW DID THE AMERICAN GOVERNMENT DEAL WITH THE CRISIS OF CAPITALISM? GREATDEPRESSION
In 1932 Franklin Delano Roosevelt a Democratic Party candidate won the
presidential elections. Roosevelt won the elections by making a pledge “I pledge you
I pledge myself to a New Deal for the American People” The new deal was a dream
to the Americans as Roosevelt promised them the reopening of the economy and
employment.
The reopening of the banks. Therefore Roosevelt created a number of government
agencies which would provide the people with jobs and a better life. The aims of the
new deal was marked by the “three Rs” namely RELIEF: aimed at providing
immediate relief to the people who were deeply affected by the Great depression,
RECOVERY: aimed at recovering the economy and getting back the people to work,
and REFORM: which was introduced to check the flexibility of economic system and
prevent another Great Depression from happening in the future.
IN WHAT WAYS DID THE NEW DEAL CHALLENGE CAPITALIST ECONOMIC THINKING?
The government closed all banks and opened only banks which were financially
strong. The government also passed laws to control business practices. The
government borrowed money monies to create projects, and employment as a
results more people were employed on these development projects which were
focused on flood control, building of schools, hospitals, and bridges. The government
subsidies the farmers in order to reduce their productions. This alone was to reduce
surplus and stabilizing prices. Tennessee Valley Authority (TVA). The aim of the TVA
was to help the poorest farming regions by building dams, planting trees, restoring
eroded farmlands. TVA was criticised for competing with private entities.
Roosevelt introduced the National Recovery Administration (NRA). The NRA was set
up to minimize wages, to ban child labour so as draft code of prices. NRA
recognised trade unions. The New Deal introduced old pension grants and
unemployment insurance, child welfare, poor benefits and health benefits. The NEW
DEAL was criticised for being to much socialist as people began to depend on social
grants. However the New deal succeeded in restoring the economy and stabilizing
the prices. Most people were employed through Government agencies.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller maphirirr. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R111,33. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
69569 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 15 years now
