Franklin’s New Deal
Introduction
FDR was the 32nd president of the United States named as Franklin Delano Roosevelt and served the country till his demise that is, 1933 – 1945. Roosevelt won the presidential elections and became a pivotal point in world events in the 20th century. He directed the government the most depression in the implementation of his new deal, which became the start of success and solution to every situation in the country. This paper gives a clear view of Roosevelt’s new deal, what he wanted to accomplish, its benefits, failures, and how they apply to the modern world.
Roosevelt’s new deal was a variety of programs made to produce relief, recovery, and reform. It was due to the economic crisis in the United States, which had become worse. The programs brought relief to the unemployed and farmers who were seeking recovery to financial issues. Each agency had its significance and would help address its concern in the economic sector. FDR wanted to flatten all the gaps which were there when he got into power and fulfill his promises as a leader and also have money to run different project. The new deal was into 2 phases; the first new deal (1933 -1934) and the second new deal (1935 – 1936).
Led by Roosevelt, the establishment of agencies, such as federal emergency relief administration( FERA), were designed to distribute relief to state governments. The public works administration (PWA) created to oversee the construction of large-scale public works such as schools, bridges, dams, citizen conversation Corps (CCC), which hired 250,000 young men to work in the local rural projects. He also made agricultural relief, which was his priority and set up the farm Adjustment Administration (AAA). It made the prices for the commodities to rise through paying farmers to leave land uncultivated and to cut herds.
Reform of the economy was the aim of the national industrial recovery act (NIRA), which sought to end competition by forcing industries to have a regulatory body to run all firms within a specific industry such as production restriction, minimum prices, and no competition policy. Also, a financial and organizational structure was reformed, creating a federal deposit insurance corporation (FDIC) to reduce savings deposits. Later in 1934, the securities and exchange commission (SEC) was created to the trading of securities while telecommunications regulated by federal communication commission (FCC).
Recovery was made through centralized spending by the public works administration. FDR, in collaboration with senator Norris, created an owned industrial enterprise in American history, the Tenessee valley authority (TVA), which built dams and power stations, controlled floods, and modernized agriculture and home condition in poverty-stricken Tenessee valley. Recovery aimed to counter the deflation, which was paralyzing the economy.
The benefits of the new deal were that it led to the creation of employment and regulatory structures in the state’s economy, which helped in the reduction of prices and production restrictions. It helped in fast growth for economic activities and high development. Otherwise, the failures were still there, like lack of cooperation from member states in the government.
In conclusion, FDR fought a very high fight to accomplish many of his promises to the Americans. It has helped even now in the business restrictions and in the creation of employment to the young generation. Even today, various agencies and programs help in the growth of the state economy.