New Deal

Paper Summary:

This essay introduces and discusses President Roosevelt's New Deal. It explains why it was considered necessary at the time and examines how these changes affected American society, both long-term and short-term.

From the Paper:

"Roosevelt came into office and swept in many key legislative acts and created very keys social programs that where specifically implemented to help create jobs. Roosevelt carefully created programs or branches of government that would invest in social capital and increase the productivity of human capital which in turn yielded into a more stable economy. In addition to its critical immediate effects, the New Deal set a remarkably different long term economic trends for the twentieth century. Gauged by the program's two distinct phases of influence " its short and long term impacts" the New Deal's monumental significance is clear. In the short term the program led to a recovery of the United States economy and the comprehensive reform of American industry, agriculture and commerce. Yet the New Deal's significance can largely be attributed to its longer term impacts " the emergence of government as an economic overlord in the capitalist system and the transformation of American capitalism itself, including the incorporation of trade unionism into the production process, a more equitable distribution of wealth and the abandonment of laissez-faire in favor of mixed-market economics. Consequently, the New Deal marked a conspicuous watershed in economic history and remains one of modern history's most significant eras."

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