Difference between revisions of "New Deal"
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| − | The so-called '''New Deal''' was a [[Socialism|socialist]] scheme during the Great Depression by [[Democratic Party|Democrat]] [[President of the United States of America|President]] [[Franklin D. Roosevelt]]. This program had three aspects: relief, recovery and reform. It sought to provide immediate relief for the millions of unemployed. Roosevelt believed the New Deal would aid in recovery and reform in hopes of ending the Great Depression. The 1937 - 1943 Depression was longer in duration than the 1929 - 1932 crash, the result of massive government intrusion into the private economy which stunted growth. | + | The so-called '''New Deal''' was a [[Socialism|socialist]] scheme during the Great Depression by [[Democratic Party|Democrat]] [[President of the United States of America|President]] [[Franklin D. Roosevelt]]. This program had three aspects: relief, recovery and reform. It sought to provide immediate relief for the millions of unemployed. Roosevelt believed the New Deal would aid in recovery and reform in hopes of ending the Great Depression. 1933 to 1937 were recovery years stimulated by the New Deal government spending. However by 1937 the nation had nowhere near recovered to where it was in 1929. The 1937 - 1943 Depression was longer in duration than the 1929 - 1932 crash, the result of massive government intrusion into the private economy which stunted growth. Manufacturing demand stimulated by WWII led to the 1943-1949 recovery, where finally, in 1949, the New York Stock Exchange recovered to the level it had been at 1929. |
Many New Deal reforms were unpopular and criticized. In 1948 President [[Harry Truman]] ran on a reformed New Deal platform called the [[Fair Deal]], which was regarded largely as an admission the New Deal had not been fair. | Many New Deal reforms were unpopular and criticized. In 1948 President [[Harry Truman]] ran on a reformed New Deal platform called the [[Fair Deal]], which was regarded largely as an admission the New Deal had not been fair. | ||
Revision as of 03:03, May 25, 2007
The so-called New Deal was a socialist scheme during the Great Depression by Democrat President Franklin D. Roosevelt. This program had three aspects: relief, recovery and reform. It sought to provide immediate relief for the millions of unemployed. Roosevelt believed the New Deal would aid in recovery and reform in hopes of ending the Great Depression. 1933 to 1937 were recovery years stimulated by the New Deal government spending. However by 1937 the nation had nowhere near recovered to where it was in 1929. The 1937 - 1943 Depression was longer in duration than the 1929 - 1932 crash, the result of massive government intrusion into the private economy which stunted growth. Manufacturing demand stimulated by WWII led to the 1943-1949 recovery, where finally, in 1949, the New York Stock Exchange recovered to the level it had been at 1929.
Many New Deal reforms were unpopular and criticized. In 1948 President Harry Truman ran on a reformed New Deal platform called the Fair Deal, which was regarded largely as an admission the New Deal had not been fair.