In: Economics
When Roosevelt came into power, he was faced with nation which was facing economic crisis with industrial output halved, stock market affected with losses, and unemployment at 25%. He therefore began the First New Deal formulation as a legislative action. The legislation addressed these crises via new laws and regulations.
The deal aimed at reinvigorating economy. This was to be done by stimulating consumer demand.
Thus the federal government’s role expanded. It created several programs under the “Three R s” , Relief, Recovery and Reform. This made the federal Government intervene in the economy directly.
Roosevelt believed in Stewardship Theory and thus believed that the President must have more power and must therefore act as a steward for the country.
This showed in his ideas regarding presidency and how he functioned. This later increased powers of the president.
Franklin Roosevelt helped in solidification of the presidency to become the epicentre of the government in America. He expanded the presidential powers tremendously from what he inherited to what he left.