The New Deal Was a Total Failure as a Response to the...

The New Deal Was a Total Failure as a Response to the Great Depression The Great Depression during the interwar years had disastrous effects on American society and the economy. In the United States and many nations, mass unemployment and poverty, bank and business failures were a major problem. In 1933, President Franklin Delano Roosevelt attempted to improve the situation by introduced his New Deal programme that was to provide economic relief and reform. The main aims were to reduce the mass unemployment and improve the American economic situation with the introduction of new government policies and agencies. This essay will discuss the policies that were introduced and the impact that these†¦show more content†¦In addition to this, there was increased participation in the stock market as those with excess capital invested in shares. Disaster struck when the market crashed in 1929 as the result of panic selling and stock values declined up to forty percent. Banks and businesses failed, industries closed or reduced their labour force. Desp ite the Hoover administration pleading with the business owners to reduce their profits rather than their labour, unemployment figures soared. Many found themselves with huge personal debts including those who were better off.[3] The poor were dependent on voluntary organisations and local authorities that were to provide the basic requirements to live, however, these provisions were drained as the conditions worsened.[4] In 1932, as nominated leader of the Democratic Party, Roosevelt told his supporters, I pledge you, I pledge myself to a New Deal for the American people. He took over the administration, becoming President in 1933. He was confronted by a serious situation that Herbert Hoover, at the end of hisShow MoreRelatedSevere Economic Downfall During The Great Depression1360 Words   |  6 PagesThe severe economic downfall during the period from 1929 to 1941 is known as The Great Depression. 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