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How Did The New Deal Strengthen Or Weaken The Usa Capitalism

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The New Deal
During the Great Depression of the 1930s, the American economy collapsed, as so did other countries’ economies across the world. Companies went bankrupt, unemployment rates were at their lowest and the stock market had fallen. The nation’s money supply had been diminished. Meanwhile, the current president, Herbert Hoover believed that this situation was only temporary and that the Depression would end eventually. Herbert Hoover also believed that the government was not inclined to solve the problem of the Depression.
Herbert Hoover’s successor, President Franklin D. Roosevelt would then come into office in 1933 to combat the Great Depression by creating a series of economic programs collectively known as The New Deal. Under Roosevelt’s belief that the government’s intervention was …show more content…

Roosevelt (Shmoop.com, 2018). The New Deal was enacted to provide immediate relief to the American people but there were three major objectives for the New Deal; relief, recovery and reform. Fulfilling the New Deal’s objectives led the introduction of numerous programs around the country.
Providing relief for Americans was the immediate priority in order to stop the economy from deteriorating. This led to the Bank Holiday, Emergency Banking Act, Federal Emergency Relief Act etc. The Bank Holiday stopped widespread panic, the Emergency Banking Act closed down financially insecure banks and the Federal Emergency Relief Act supported needy people in the form of cash payments.
After immediate relief was provided, the New Deal then went to recover the economy by creating temporary programs that created consumer demand once again. The federal government invested in public works such as hospitals, schools, homes, libraries, theatres etc. in order to create employment for the people under The Works Progress Administration (WPA). The WPA also provided long term government

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