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Paper Topic:

explain the long-term significance of the new deal

Running head : The New Deal

The Long Term Significance of the New Deal

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The New Deal was a series programs of that President Franklin D Roosevelt proposed in the 1930s to help the people and the United States ' economy to recover during the Great Depression . Many government agencies known as alphabet agencies ' were established when the New Deal was enacted (Outhwaite , 2003 ,

. 2 . Scholars differentiate between the First New Deal ' of 1933 which gave assistance to the general

br population and the Second New Deal ' which was established between 1935-1936 , class conflicts began between big businesses and unions . In 1937 , people who opposed the New Deal ended its expansion because of its increasing cost and centralized government control . By 1943 , many of the New Deal 's programs were brought to an end . Several programs were held unconstitutional by the Supreme Court of the United States . However , the National Recovery Administration was retained . Currently , there are programs that still exist such as the Social Security and the Securities and Exchange Commission . The New Deal signified the change of political policy in the United States , with increased governmental powers over the economy and the supply of money , intervention to control prices , and agricultural production , the beginning of a welfare state , and the promotion of trade union organizations (2

The Long Term Significance of the New Deal

The New Deal had three mechanisms also known as the three Rs namely : direct relief , economic recovery and financial reforms

Relief measures were taken to help the population affected by the Great Depression . President Roosevelt expanded Hoover 's Federal Emergency Relief Administration and established the Civilian Conservation Corps Public Works Administration , and the Works Progress Administration respectively . The Social Security and unemployment insurance were created in 1935 to serve as a safety net for the American workers . There were programs made for the relief of Rural America such as the Resettlement Administration and the Farm Security Administration (Parker , 2002 . These relief programs were hailed by economists of that time . An economist by the name of Milton Friedman stated that these relief programs are appropriate responses to the critical situation (Friedman , 1998 ,

. 59

Economic recovery was an attempt to rebuild the U .S . economy . This goal was reached in 1937 except with the problem of unemployment that was present until World War II . When the United States entered the war , it gave a considerable economic growth to the country

Financial reform was brought about by the notion that the Great Depression was a result of the market 's volatility and the government should gain control to regulate the interests of business , farmers and labor . The reform programs included the National Recovery Administration (1935 , the Agricultural Adjustment Act farm programs (from 1933 and 1938 , insurance of bank deposits , and the Wagner Acts which paved the way for labor unions . President Roosevelt opposed the idea for control of banks and railroads except for the Tennessee Valley Authority of...

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