Fighting the Depression:
Following the Great Depression and the crash of the Stock Market in 1929, both Herbert Hoover and Franklin Delano Roosevelt took action by establishing relief programs to help cope with the difficulties that were faced during those rough times. They both had similar goals, but different relief programs. Hoover thought that his methods were best for the long-run, while on the other hand, FDR wanted to provide help to those who were just affected by the Great Depression. The overall effectiveness of the economic programs initiated by Hoover and FDR can be determined by analyzing the outcomes of The New Deal, Second New Deal, FDR’s Recession, and policies
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With that in mind, FDR established the Federal Deposit Insurance Corporation (FDIC) in that it gave people confidence in the economy, and ensured Americans that their money would be in a safe place. People also began to involve themselves more in the Stock Market which allowed the business market to thrive. The establishment of the Tennessee Valley Authority (TVA) was effective in which it established jobs, and promised Southerners cheap, affordable power including the construction of dams. FDR also used this program to renourish the Tennessee River Valley. Being that the Civilian Conservation Corps (CCC) was FDR’s favorite New Deal program, the CCC provided jobs to over 2 million people who were devastated by the depression and also contributed to living a better life for those who suffered from the …show more content…
Hoover organized the Reconstruction Finance Corporation (RFC) which did not work out the way he intended. People who needed aid did not receive it, and also banks gave money to businesses but those businesses did not use it appropriately. After the downfall of that, Hoover came up with a new idea that he thought would benefit people in the long-run. The Hoover Dam was crafted to provide relief and jobs for those who were in need. It was the one project well-established by Hoover. With the construction of the Hoover Dam, the employment rate increased and people found stability. The other program Hoover developed but also was not effective was the Hawley-Smoot Tariff. This tariff destroyed international trade and even worse it damaged global economy because it terminated international trade at the time. This tariff not only devastated certain businesses that were thriving but also recreated problems experienced during the Great