What Did President Roosevelt Do To Try To Counter The Effect Of The Great Depression
How did President Roosevelt try to help end the depression?
The previous posts were quite strong. I would like to echo that Roosevelt's entire approach to the role and scope of government helped to end the Depression. In addressing the economic crisis of the time period, Roosevelt seized the opportunity to articulate a vision of government where an expanded scope and role could help citizens' times of economic distress. Legislation and policy geared towards enhancing consumer protection and rights and regulating the practices of businesses and banks were part of this vision. Roosevelt's use of the government in addressing economic crises set the stage for other governments to follow and to keep in mind when attempting to promoting the general welfare from an economic point of view.
President Roosevelt tried to end the Depression in a variety of ways that, all put together, are known as the New Deal.
Among the things he tried to do were:
- Put people back to work by providing government jobs for them. A notable program like this was the WPA.
- Give money to them to help them get by. This is stuff that is essentially welfare.
- Arranging for farmers to get better prices by paying them to stop growing so much stuff.
- Regulating the financial industry so they would not do things like the things that helped cause the Depression.
President Theodore Roosevelt's program for lifting U.S.A. out of the great depression of the 1930's, which was launched in 1933 soon after he became president is popularly called the New Deal. This program did nor really end the depression completely, but it did reduce its severity. Also it did a lot to alleviate the suffering of people of people affected by the depression.
New deal included measures to directly help people affected by the depression by providing them jobs on government sponsored projects, and helping them to repay mortgages on housing loans.
A very important part of the New Deal was to introduce greater control and supervision of banks and stock markets to ensure their healthy, honest and more transparent operation, and to restore public confidence in these institutions.
President Roosevelt also took measure to directly counter the by various means such as undertaking major government sponsored projects to increase the business activity and stimulate demand, clam down on unhealthy price cutting competition, introduce minimum wages for the labour, and improve the bargaining strength of the labour force.