include the forty-hour work week, minimum wage, the end of child labor, federally insured bank deposits, and thirty-year, federally insured home mortgages. All of these are meant to provide a measure of security to average people.

Few people would like to go back to a world without a social welfare state that provides a minimum amount of safety and security to the average person.

The New Deal had many effects on our country. The immediate effect was to try to provide relief and jobs to our people. There were many programs that created jobs. The Civil Works Administration and the Public Works Administration are some examples of programs that were created. Farmers were encouraged to cut production by being paid not to plant crops as a result of the Agricultural Adjustment Act. The Home Owners Loan Corporation allowed people with jobs to refinance their mortgage.

There were some reforms made to try to prevent the Great Depression from happening again. The Securities Act regulated the stock market. The Glass-Steagall Act regulated the banking industry and provided insurance for bank accounts. The Federal Deposit Insurance Corporation insures savings accounts.

The New Deal had some long-term effects. Today, people expect the government to be a safety net if things completely collapse. The government can no longer sit back and tell people to wait until good times return. They also expect the government to get involved and try to resolve disputes between powerful groups. The New Deal also created a lasting social program with the Social Security Act. People rely on Social Security when they consider retiring from their jobs.

The New Deal was very important in helping us deal with the effects of the Great Depression. It also has some lasting effects that are important to this day.

Coming to office amid the depths of the Great Depression, the newly-elected administration of President Franklin Roosevelt wasted no time devising a strategy for lifting the country out of the economic mire in which it was seemingly trapped.  The series of programs that emerged to address the wide-scale unemployment that followed the crash of the stock markets in 1929 were known as the New Deal.  The New Deal included a number of large-scale public works projects, many under the rubric of the newly-established Tennessee Valley Authority, that put large numbers of unemployed laborers to work building dams, roads, and other forms of infrastructure.  The Civil Works Administration was the federal agency established for the purpose of finding ways to put people back to work, and the Federal Housing Administration was established for the purpose of spurring the labor-intensive home-building industry which would benefit both laborers and those hoping to buy new homes through the program's low-interest loan element.  Other programs, including the establishment of the Federal Deposit Insurance Corporation, which guaranteed the savings of individual investors up to a certain limit, and which still exists, was intended to protect families from the devastating effects of another wide-scale banking failure, which had wiped out millions of peoples' savings accounts, were similarly created to address the problems associated with the Great Depression.

The New Deal was instrumental in spurring economic growth and helping to lift the country out of the depths of the depression.  Its massive injection of the federal government into the economy was controversial then, and remains controversial today, although most historians agree that the New Deal was an appropriate response to the economic crisis that had come close to destroying the country.

There were several lasting effects of the legislation developed during the New Deal. One lasting impact was the creation of the Social Security System with the passage of the Social Security Act. Many people rely on Social Security as their primary source of income when they retire. This New Deal program is very important for many people today.

Another lasting impact is that people believe the government should act as a safety net when very difficult times arise. The government developed programs that created jobs during the New Deal. Programs like the CCC and the CWA provided work for unemployed people. We expect the government to help people in some way with employment during difficult economic times.

People have come to expect the government to protect us. The Federal Deposit Insurance Corporation was created to protect savings accounts. People rely on this insurance today to protect their bank accounts. Reforms were also made regarding the stock market. Companies must provide investors with factual information. The Securities and Exchange Commission was created to monitor the stock market and to prevent fraud. These reforms continue to influence now.

In some states laws favorable to workers still exist. The Wagner Act gave unions the right to exist. It allowed for collective bargaining. It also prevented companies from interfering in union activities. The National Labor Relations Board was created to handle disputes and to certify union election results.

Many New Deal laws or programs still exist and still influence us today.

President Roosevelt’s New Deal had great economic and social impacts on both the people of America and the economy as a whole. Socially, the federal government was tasked with immediate management of people’s welfare, which was not the case prior. Through this mandate, the federal government developed and implemented several programs to help cushion people from the devastating effects of the Great Depression. Such plans included the pensions program and the school lunch program among others which were funded through deficit spending. To date, deficit spending is not an alien component to the federal budget.

In present day America, the federal government has rolled out numerous other programs with roots from the New Deal to help protect people in various spheres of life. Besides Social Security which is perhaps the most notable of the New Deal programs, other initiatives such as Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission among others also exist to ensure people’s interests and wellbeing are protected.

The major social effect of the New Deal legislation has been to change the relationship between Americans and the federal government.  Before the New Deal, Americans generally did not expect the government to help them.  After the New Deal, we have come to expect that the government will get involved in practically every aspect of the economy in an effort to help us individually and the economy as a whole.

Let us look at three examples.  The New Deal has led to a situation in which we expect the government to provide subsidies to the agricultural sector.  This came out of such legislation as the AAA.  Second, the New Deal has caused us to expect the government to provide for our retirement (Social Security).  Finally, the New Deal has led us to expect the government to make sure that we cannot lose our money if our bank fails (FDIC). 

All of these programs and more have led us to a greater reliance on the federal government and a greater expectation that the government will be involved in most aspects of our economy.

Two important pieces of legislation were created under the New Deal that had a tremendous impact on banking and finance in America are the Federal Deposit Insurance Corporation, F.D.I.C. and the Securities and Exchange Commission, S.E.C. Created in 1934 the F.D.I.C. insured bank deposits up to $100,000. The purpose of the law was to restore faith in the banking system. As the markets weakened and finally collasped in 1929 bank deposits simply evaporated. Americans might have held a bankbook stating they had $1000.00 however as more and more banks failed there was little anyone could do to recover their money. As a result Americans were apprehensive about depositing any money into the banks. The F.D.I.C. helped to restore confidence in the system. Just recently the federal government increased the insurance level to $250,000 in order to protect bank deposits vulnerable to the market failure this past October/November. The Securities and Exchange Commission was created to prevent fraud in the stock market by overseeing its regulatory actions. Several practices such as 'buying on margin' (buying on credit) and documentation of financial statements for the public were instituted in order to stabilize the financial markets. Unfortunately, in the recent past several major corporations were caught violating these practices by altering financial statements with the intent to decieve the stockholders. Although these pieces of legislation strengthened and stabilized the banking and finance industries after the 1929 stock market crash under our present economic climate a serious revaluation of laws might be necessary in order for them to sustain their original intent.

The true impact of the New Deal didn't fully take hold until after the end of World War II, but from the start, this new way of understanding the role of the federal government in people's lives led to greater stability, security, and prosperity for the bulk of the American people. The New Deal operated on the premise that the federal government had a central role in ensuring a better economic life for all Americans.

The New Deal worked at reviving the economy by putting people to work through various federal government programs to build and repair infrastructure. It increased the standard of living of the average person through minimum wage legislation, social security, and federally insured bank deposits and home mortgages.

Economically, the New Deal increased regulations on banks, Wall Street, and businesses in order to insure that another devastating stock market crash would not occur to bring down the economy a second time. These regulations worked until they were rolled back in the late 1990s and early twenty-first century, leading to the devastating collapse in 2008.

Politically, the New Deal was, in fact, truly a new deal for the American people. For the first time, the federal government took on the important role of trying to promote the security and prosperity of the American people. Before that time, aid programs had been the province of private charity and local government initiatives. The federal government felt its chief role was military defense of the nation. Under the New Deal, the federal government shifted its focus to institute sweeping programs to help all Americans. This helped keep the threat of communism at bay.

Politically, too, the New Deal was popular, and a public consensus that the government has an integral role in ensuring the economic welfare of all Americans has endured until this day, though the two major political parties debate how large that role should be.

The New Deal had significant impacts in both the short and the long term.

In the short term, it helped to reduce the severity of the Great Depression.  It did not end the Depression, but it improved conditions to some degree.  At the same time, it helped make Franklin D. Roosevelt and the Democratic Party much more popular.

In the long term, the major impact of the New Deal was to entwine government and the economy.  This was the beginning of the system we have now in which the government is held responsible for how the economy runs and in which it regulates almost every aspect of the economy.