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Great Depression Essay

464 Words2 Pages

Before the Great Depression, were the Roaring Twenties. This era was once described as glamorous and carefree. Many people bought things on credit, which led to overspending and debt. Many companies made appliances that applied and would shorten time on household chores. This led to the economy slowly going downhill; this is also known as the Great Depression. The Great Depression was when the economy was down and banks had to close down. President Franklin D. Roosevelt created the “New Deal'', in which the government would create many programs to help the population. In my opinion, I think the effectiveness of the Government's response to the Great Depression was successful. They provided relief for the population and created new programs …show more content…

An example would be the Civilian Conservation Corps (CCC). This program gave jobs to unemployed young men between the ages of eighteen and twenty-five. They would build roads, parks, and work on the Soil Erosion Project; this program also paid the young men’s families small monthly payments. Another example would be the Public Works Administration (PWA); this government program hired two million unemployed people to build airports, schools, hospitals, and parks. The PWA funded over thirty-four thousand projects, such as electricity-generating dams and built over one third of the hospitals and schools. At the same time, the government also reformed the economy by creating new programs that would help the economy out of the depression. An example would be the Securities and Exchange Commission's (SEC). This government program was created to regulate the stock market and prevent another crash. They required financial disclosure by corporations to protect investors from fraud. Another example would be the Tennessee Valley Authority (TVA). This program was created to bring electricity to the southern states. They built hydroelectric power plants that issued cheap electricity and

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During the Great Depression “the currency was becoming more valuable every day, rarer and scarcer” (Shlaes 108). The Great Depression was the reason to change and reform government. Even though Shlaes wrote Roosevelt and his New Deal made the Depression stay longer, but in reality to recover from the Great Depression, Roosevelt New Deal helped economy to get back in track. The New Deal made the government to be more involved in people’s life. New Deal used Government as an agent and started to intervene in the economic institution in order to recover from the failure.

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 Hoover is often blamed for not doing anything to end the Great Depression, but he actually did try to use the government to create infrastructure projects, thus creating jobs. Like the Hoover Dam and the Reconstruction Finance Corporation to try to end the Depression. There are two major differences between their approaches.  One is that President Roosevelt was willing to do more than President Hoover to combat the Great Depression.  Roosevelt was willing to let the government become more involved in the economy.

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Before the people had viewed that the economy and the government should be completely separate, but Roosevelt believed that it was the federal government’s responsibility to ensure the American economy is running smoothly. He brought upon the New Deal Legislation, in which was a program that enacted the three R’s, Relief, Recover and Reform. It also increased the size and power of the federal government. The Relief measures were short term strategies to help the hold stability until the economy recovered. During the Great Depression, thousands of banks started failing due to people removing their funds because they didn’t trust the banks.

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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

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