New Deal Flashcards, test questions and answers
Discover flashcards, test exam answers, and assignments to help you learn more about New Deal and other subjects. Don’t miss the chance to use them for more effective college education. Use our database of questions and answers on New Deal and get quick solutions for your test.
What is New Deal?
The New Deal was an economic and social program implemented in the United States under President Franklin D. Roosevelt during the Great Depression of the 1930s. The aim of the New Deal was to restore public confidence in the economy, provide assistance to those who were suffering from poverty and unemployment, and reform certain facets of American society such as labor laws and banking regulations. The New Deal is widely credited with bringing about a recovery from the Great Depression, although it has been criticized for its approach to regulating business, which some argue could have been more effective.The New Deal consisted of a range of government programs that provided relief to millions of unemployed people through direct payments, job creation schemes such as the Works Progress Administration (WPA), Social Security benefits, housing programs, agricultural subsidies, banking reforms and other measures. Some aspects of the New Deal remain in place today such as Social Security benefits; however many have since been abolished or revised due to changing economic conditions or advances in technology. The legacy of the New Deal is often debated by economists; while some argue that it played an important role in stabilizing American society during a time when traditional market capitalism had failed miserably, others point out that many aspects were wasteful spending projects or simply ineffective at addressing underlying structural problems contributing to poverty and inequality. Regardless, it serves as an important reminder that government intervention can be effective at times when markets fail and individual citizens are unable to provide for themselves alone.