The New Deal: Changing Government Involvement in the U.S. Economy
Summary: An examination of American President Franklin Delano Roosevelt's New Deal and how the increased federal involvement that resulted from the New Deal was welcomed by most American citizens as a source of relief. The "Roaring Twenties," which occured just before the Great Depression, was a time of decreased government involvement and prospering industries. However, during the depression and the years of the New Deal, the federal government gained more control over the economy and began regulating various aspects of economic life for the better of the people.
In 1929, devastating calamity in the economy annihilated any chances of monetary success in the United States. Better known as the Great Depression, this event brought about immense bank failures, ridiculously high unemployment levels, deteriorating GDP, decline in value of stock market shares, and a suffering population (Great Depression, par 1). Determined to mollify distressing conditions caused by this and rebuild the collapsed economy, President Franklin Delano Roosevelt initiated the New Deal in 1933. The New Deal was a series of legislative programs aimed to encourage financial recovery, social reform, and unemployment relief. By ending laissez-faire capitalism, Roosevelt increased government involvement in the economy for the better of the people, as he once promised "I pledge you, I pledge myself, to a new deal for the American people. (Memorial, par 5-6). "
Upon winning the election of 1932 in November, Roosevelt waited anxiously for...