Question

2. Franklin Delano Roosevelt took an aggressive approach to the economic and social problems that resulted from the depression. Discuss the key initiatives directed at the financial system and those directed at providing support and employment to the unemployed

Answer 1

SOLUTION

FRANKLIN DELANO ROOSEVELT'S APPROACHES ON GREAT DEPRESSION

In his first inagural address, United states president Franklin. D. Roosevelt, made some attempt to assess the enormous damage: '' The withered leaves of industrial enterprise lie on every side; farmers find no markets for their produce; the savings of many years in thousands of families are gone. More important, a host of unemployed citizenns face the grim problem of existence, and equally great number toil with the great depression''. He was speaking of the great depression of 1929-1940, which begun and centered in the United States but spread quickly throughout the industrial world. Despite describing the great depression with grim words, the economic catastrophe and its impact defied description. The United states had never felt such a blow to its economy.

KEY INITIATIVES MADE

THE NEW DEAL

President Roosevelt's New Deal re-shaped the economy and the structure of the United states, however in order to ed the poverty during the crisis. The New Deal programs would employ and give financial security to millions of Americans. These programs would prove to be effective and extremely benefitial to the American Society as some still provide the economic security and benefits today. The New deal in the certain sense, merely introduced types of social and economic reform familiar to many Europeans for more than a generation. What was truely novel about the New deal, however, was the speed with which it accomplished what previously had taken generations.

THE SECOND NEW DEAL

The increasing pressures of the Great depression caused Rooseveltn to back a new set of economic and social measures prominent among these were measures to fight against poverty, to counter unemployment with work and to provide a social security net. The Work Progress Administration ( WPA), the principal relief agency of the second New deal, was to provide work rather than welfare. Under the WPA, buildings, roads, airports and schools were constructed. Actors, painters, musicians and writers were employed through the Federal Theatre Project, the Federal Act Project and the Federal Writers Project. In addition, the National Youth Administration gave part time employment to students, establishing training programs and provided aidto the unemployed youth. Although the WPA only included three million jobless at a time, it had helped a total of 9 million people when it was abandoned in 1943.

AGRICULTURE

The new deal years were characterized by a belief that greater regulation would solve many of the country's problems. In 1933, Congress passed the Agricultural Adjustment act ( AAA) to provide the economic relief to the farmers. The AAA had a core to plan to raise crop praises by paying farmers a subsidy to compensate for voluntary cutbacks in production.