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How did Franklin D. Roosevelt's policies impact the Great Depression?

Lish Linforth

The policies implemented by Franklin D. Roosevelt during the Great Depression had a significant impact on the country's economic recovery. Roosevelt's policies were aimed at providing relief, recovery, and reform to stabilize the economy and create jobs.

One of the most influential policies introduced by Roosevelt was the New Deal, which was a series of programs and initiatives aimed at stimulating the economy. The New Deal included the creation of programs like the Civilian Conservation Corps and the Works Progress Administration, which employed millions of people across the country and provided much-needed relief to those who were unemployed.

Additionally, Roosevelt put in place policies that sought to regulate the banking system and prevent the types of risky investments and speculation that had led to the economic collapse in the first place. The Glass-Steagall Act was one such policy, which separated commercial banks (which took deposits from consumers) from investment banks (which made risky investments).

Roosevelt's policies also had a significant impact on the labor market. The National Labor Relations Act, also known as the Wagner Act, protected the rights of workers to organize and bargain collectively, which led to the formation of labor unions and higher wages for workers.

In addition to these policies, Roosevelt was also instrumental in implementing monetary policies that helped to stabilize the economy and stimulate growth. The Federal Reserve System, which was created in 1913, had been ineffective in preventing bank failures during the Great Depression. However, Roosevelt's administration introduced policies that enabled the Fed to better regulate the money supply and prevent future economic crises.

Overall, Roosevelt's policies played a crucial role in helping to lift the country out of the Great Depression. By providing relief to the unemployed, regulating the financial sector, protecting the rights of workers, and implementing monetary policies that promoted stability, Roosevelt set the stage for an economic recovery that would continue for years to come.