Good Example Of The Great Depression Essay

Franklin Roosevelt approach to the Great Depression dubbed, as the New Deal was effective. The New Deal comprised of domestic programs that were aimed at offering relief to the poor and unemployed, reforming the American financial system and recovery of the economy. All these efforts were made possible through Roosevelt determination and political influence. Roosevelt was renowned for his hands-on approach as compared to his predecessors who took up a laissez-fare approach in the management of the economy. The Roosevelt administration initiated five policies that resuscitated the American economy.
Bank holiday was the first policy that saw the end of the collapse of banks across America. The policy saw the supervised opening of banks by the federal treasury. The banks were awarded federal loans, which was instrumental in the stabilization of the banking sector. The next policy was centered on the management of the stock market by the government. The policy enhanced transparency as well as reduction of corporate abuses in corporate reporting and sale of securities. Roosevelt’s policies were further successful in that they created employment opportunities or the Americans through the public works program.
The New Deal further saw the creation of safety net programs that offered relief to Americans who were in dire need of housing, employment, social security, and food. The humanitarian policies were successful in improving the quality life of the diverse American populace. President Roosevelt through the Farm Securities Act managed to improve the United States food security. This program saw the proper compensation of farmers for their products as well as maintaining low farm produce prices. Roosevelt’s administration was also keen at subsidizing farmers in order to encourage them to produce more food produce. This was aimed at ensuring that food was affordable and available to all Americans. With all the aforementioned initiatives, one can truly say Roosevelt’s approach to the Great Depression was successful.