the new deal and the great depression

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the new deal and the great depression

Category: Controversial Essay

Subcategory: History

Level: Academic

Pages: 1

Words: 275

The new deal and the great depression
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The topic of the new deal and the greatest depression is a history that covers the roaring 20s when there was a great depression that affected the stock market of the United States and the effect even extending globally. There was a severe blow on the economy that had a long term effect, business collapsed while salaries and demand of goods decreased thus leading to decrease in value of money. Consequently, the great depression had a negative social impact whereby the industrial output was dismantled hence leading to Americans enduring long hardship. This was a result of fall of businesses, unemployment, drop of agricultural prices and high dependency ratio. However, after the inauguration of Franklin Roosevelt there was a new deal concerning the financial instability that had paralyzed the economy that was eventually. The new deal involved passage of banking reforms laws, work programs, agricultural programs and the emergency relief programs. Moreover, after the great depression the social security act of 1936 was enacted to provide financial benefits to the old people, blind people, crippled children, maternal and child welfare, public health and the administration of their compensation laws. Basically the purpose of this social security act of 1936 in relation to the great depression is to provide relief to the American people considering the serious hardship they endured during the great depression even resulting to death due to inevitable hunger.
On the other hand, the social security act was constitutional according to the court rulings therefore the act was protecting the rights of the citizens and defining their duties as well. Franklin Roosevelt was the pioneer of this act which was enacted in both houses and it was useful to the people and the nation as well.
In conclusion, the topic of this paper new deal and great depression was chosen as a research study that enlightens the audience about the great depression that occurred in America. However, it furthers enlightens how this great depression affected the stock market but later recovered after the new president was elected. The main objective of choosing to write this paper was to undertake a research study about the American history. Therefore, this paper develops an insight on the transition of America during the era of President Roosevelt. I was also interested to know how America overcame the great depression and revived its economy. On the other hand, this reference social act (1936) was chosen to reflect how the great depression was recovered after the implementation of this act which outlined how the American society was reborn after undergoing the hardship. In addition, the source related to helvering v.davis (1936) was chosen to reflect the how the case was ruled concerning the issue of social security.