New Deal

Philosophy and economy of new Deal

The government of the United States became greatly involved in economic issues after the stock market had crashed in 1929. This crash visited most serious economic dislocation on America's economy. It lasted 1929-1940. This prompted President Franklin D. Roosevelt to launch the New Deal to alleviate the emergency. Very important legislations were and institutions were set up during the New Deal Era. These legislations extended federal authority in banking, agriculture, and public welfare (U.S. Dept. Of State, 2013). Minimum standards for wages and hours on the job were prescribed during this period. The legislations also served as a catalyst for expansion of labor unions in steel, automobiles, and rubber industries. Some of the very important agencies like the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Social Security System. The Securities and Exchange Commission regulates the stock market (U.S....
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