Also published in The Freeman
| 1916 | 13 | 17 |  |
The Great Depression was a watershed in American history. Soon after Herbert Hoover assumed the presidency in 1929, the economy began to decline, and between 1930 and 1933 the contraction assumed catastrophic proportions never experienced before or since in the United States. Disgusted by Hoover’s inability to stem the collapse, in 1932 the voters elected Franklin Delano Roosevelt, along with a heavily Democratic Congress, and set in motion the radical restructuring of government’s role in the economy known as the New Deal.
With few exceptions, historians have taken a positive view of the New Deal. They have generally praised such measures as the massive relief programs for the unemployed; the expanded federal regulation of agriculture, industry, finance, and labor relations; the establishment of a legal minimum wage; and the creation of Social Security with its old-age pensions, unemployment insurance, and income supplements for dependent children in single-parent families, the aged poor, the physically handicapped, and the blind. In the construction of the American regulatory and welfare state, no one looms larger than FDR.
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With few exceptions, historians have taken a positive view of the New Deal. They have generally praised such measures as the massive relief programs for the unemployed; the expanded federal regulation of agriculture, industry, finance, and labor relations; the establishment of a legal minimum wage; and the creation of Social Security with its old-age pensions, unemployment insurance, and income supplements for dependent children in single-parent families, the aged poor, the physically handicapped, and the blind. In the construction of the American regulatory and welfare state, no one looms larger than FDR.
Mais
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