People had to give up a certain amount of freedom in order to ensure more freedoms for all with the New Deal. The New Deal ended speculative excesses by banks and Wall Street, with programs such as the FDIC and the Securities and Exchange Commission. People had to know that...
People had to give up a certain amount of freedom in order to ensure more freedoms for all with the New Deal. The New Deal ended speculative excesses by banks and Wall Street, with programs such as the FDIC and the Securities and Exchange Commission. People had to know that their bank deposits were safe and insured. People also had to be aware that insiders could not get an upper hand on other investors on Wall Street. While these practices limited freedoms for some, they made the system more fair and leveled the playing field for smaller investors and depositors.
People also had to give up freedoms in business practices too. The Agricultural Adjustment Act provided subsidy checks in order to prevent farmers from overproducing and sending too many goods to the market at one time. Although farmers were now told they had a limit on what they could produce, they also received compensation if the market for their goods was poor.
People also gave up freedoms to provide for the elderly and poorest members of society. Social Security continues to take a certain percentage out of payroll checks, but now people can count on receiving a certain level of income whenever they are unable to work. People lost land through the Tennessee Valley Authority's flooding of cropland, but the region gained flood control and inexpensive electricity. This brought jobs and prosperity to the Southeast, a region formerly known for its excessive poverty.
The New Deal limited some freedoms, but people now knew that government would take an active role in cushioning the blows of economic hardship for all Americans. This leveled the playing field for the most destitute members of society. Governmental reforms in the economic sector led to more fairness for all involved. The freedom derived from the New Deal was designed to help all Americans by making it possible for everyone to have a chance at success.