- Published: October 1, 2022
- Updated: October 1, 2022
- University / College: Dartmouth College
- Level: Masters
- Language: English
- Downloads: 39
The New Deal legislation Introduction The New Deal was introduced by the American president Franklin Roosevelt to reform the distorted face of the American economy after the debacle of the Wall Street crash in 1933 (The Great Depression and New Deal, 1929-1940s). The New Deal was introduced in the country to liberate the nation from its social, economic and financial problems. But what actually was done was only one half of the picture. The New Deal was established ” to reorganize capitalism in such a way as to overcome the crisis and stabilize the system; also, to head off the alarming growth of spontaneous rebellion” (HISTORY IS A WEAPON), The New Deal tried to create an image of good will by simply refurbishing the people of the middle class. It provided jobs but only to half of the people and providing the bare minimum to the lowest group of people (Zinn 205). Though there were many employments provided to the people after the great depression historians like Howard Zinn are contradictory in their opinions. According to Zinn, the New Deal had not completely transform the American economy but only protected the corporate capitalism of America buy absorbing the threatening situations but occasionally (RADOSH).
Policies included in the New Deal
There were many programs included in the New Deal policy. Emergency Banking Act/Federal Deposit Insurance Corporation (FDIC) was done to re instill the faith of the Americans in the banking system. Civil Works Administration (CWA) was a policy to provide psychological and physical benefits to the 4 million workers o f USA. Indian Reorganization Act of 1934 was specially aimed at protecting the lands of the Native Americans. Federal Securities Act of May 1933/ Securities and Exchange Commission (SEC) was a very important policy that made it mandatory to disclose all information related with stocks. Works Progress Administration (WPA) 1935-1943 helped in providing employment to the people (New Deal Achievements). These policies transformed the economic system of the country to a great extent.
New Deal affect on the African American and Mexican American
The New Deal provided mixed results for both the two minority communities of America. While the black community received some marked benefits the impact on the Mexican American community was even lesser. The New Deal provided authorative positions for the black people in the US government like Mary McLeod Bethune who was hired by the Roosevelt to lead the Division of Negro Affairs of the National Youth Administration (The New Deal Affects Many Groups 505). Though the president voted for equality of the races, he did not completely support the cause as he feared a back lash by the white democrats. The Mexican Americans received little help from the New Deal policies as they were often subjected to discriminations (The New Deal Affects Many Groups 506).
Conclusion
The New Deal was formed to change the American economy after the impact of the great depression of the 1930s. There were many economic and social reforms in the society but if viewed from a critical angle it will be found to be partial or incomplete in its affairs. There wer4e many factors pointed out by historians like Zinn who spoke about the failures of the New Deal by specially focusing on the employment issue. But on a broader scale, the success of the New Deal cannot be undermined vas it has found way in the present time too when the economy again seems to be hit by recessions. President Barack Obama had spoken about reinitiating the New Deal to introduce similar impacts in the recession periods of the 21st century. He plans to do this by restructuring the underdeveloped areas, roads and other infrastructures (Wang). Thus it can be concluded that though there were discrepancies in the implementation of the New Deal it did make some positive contributions in the American economy.
References
“ HISTORY IS A WEAPON”, n. d, November 3, 2012. from: “ New Deal Achievements”, 2007, November 3, 2012. RADOSH, RONALD, The Myth of the New Deal, n. d, November 3, 2012. “ The New Deal Affects Many Groups”, n. d, November 3, 2012. < http://www. slhs. net/2002106113135543/lib/2002106113135543/504-509_New_Deal_Affects_Many_Groups. pdf> “ The Great Depression and New Deal, 1929-1940s”, n. d, November 3, 2012. Wang, Jim, Obama’s 21st Century New Deal: An Economic Stimulus, 2012, November 3, 2012. Zinn, Howard. The Zinn Reader: Writings on Disobedience and Democracy. Seven Stories Press, 2007