Question

In: Economics

What problems did President Roosevelt identify in America during the Great Depression?

250 words in total with all questions

1.1 What problems did President Roosevelt identify in America during the Great Depression?

1.2 What was his plan to address and/or solve these problems?

1.3 How would you assess Roosevelt's success in his speech and then in the New Deal?


Solutions

Expert Solution

1.1) In an ill-fated move in 1937, President Roosevelt sought to pack the US Supreme Court, which had ruled against many of his programs, with justices who would be more favorable to the New Deal. His" count packing” plan called for adding an additional justice to the Court for every justice over the age of 70. The measure was widely denounced by the public and failed in Congress.

Although the New Deal did not ultimately succeed in lifting the United States out of the Great Depression, the United States' mobilization for World War II revived the economy during the late 1930s and 1940s.

1.2)lowered federal spending to maintain balanced budget.new deal is termed as the series of programs which include regulation enacted in united states, public works projects and financial reforms which was a response of great depression.

The depression was actually ended and prosperity restored, by the sharp reductions in spending, taxes and regulation at the end of World War II, exactly contrary to the analysis of Keynesian so called economists. There are better ways to reduce unemployment, as was shown after the war.

1.3) I pledge myself, to a new deal for the American people.” Though Roosevelt did not have concrete policy proposals in mind at the time, the phrase "New Deal" came to encompass his many programs designed to lift the United States out of the Great Depression.

The New Deal created a broad range of federal government programs that sought to offer economic relief to the suffering, regulate private industry, and grow the economy.


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