President Theodore Roosevelt's program for lifting U.S.A. out of the great depression of the 1930's, which was launched in 1933 soon after he became president is popularly called the New Deal. This program did nor really end the depression completely, but it did reduce its severity. Also it did a lot to alleviate the suffering of people of people affected by the depression.
New deal included measures to directly help people affected by the depression by providing them jobs on government sponsored projects, and helping them to repay mortgages on housing loans.
A very important part of the New Deal was to introduce greater control and supervision of banks and stock markets to ensure their healthy, honest and more transparent operation, and to restore public confidence in these institutions.
President Roosevelt also took measure to directly counter the by various means such as undertaking major government sponsored projects to increase the business activity and stimulate demand, clam down on unhealthy price cutting competition, introduce minimum wages for the labour, and improve the bargaining strength of the labour force.
No comments:
Post a Comment