StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The New Deal, a Socialist Program That Saved Capitalism - Essay Example

Cite this document
Summary
The New Deal, a Socialist Program That Saved Capitalism Instructor name Date The era of the New Deal in America is perceived by many to be primarily a social and works program designed to alleviate suffering caused by the Great Depression and confined to the 1930’s…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.4% of users find it useful
The New Deal, a Socialist Program That Saved Capitalism
Read Text Preview

Extract of sample "The New Deal, a Socialist Program That Saved Capitalism"

Download file to see previous pages

President Roosevelt (FDR) in conjunction with other supporters of the New Deal within the government looking for effective methods to renovate the country’s economic well-being considered two options. One, they could create programs from the bottom-up by creating federally funded jobs and issuing widespread welfare benefits therefore forming social contracts with the working class including labor unions and racial minorities or two, they could provide businesses the unregulated freedom to correct the market via expansion which, theoretically, would creating additional jobs, put money in people’s pockets and stimulate the economy.

This is a fundamental economic debate that continues to this day. Contrary to prevailing historic perceptions, the nation was not moving towards socialism. The New Deal actually symbolized the capitalist cultural structure. Its policies continued the separation between what was deemed the ‘worthy’ poor, typically widows and their children and what were considered the ‘unworthy’ poor, which meant almost everyone else, who were ignored. The First New Deal (1933 to1934) unquestionably slanted governmental policies in the direction of large corporations.

  The policies of the Second New Deal, beginning in 1935, appeared to be less pro-‘big business,’ but in practice continued to sustain the idea of top-down (trickle-down) economic growth.  Later during this second stage of reform, the federal government began to focus on stronger regulations on business and antitrust enforcement but ultimately, large corporations maintained influence on critical decisions involving production, pricing and investment capital. Additionally, the government assisted business by restricting competition much to the disappointment of “New Dealers” in Washington.

“Rather than attempt to regulate businesses, New Deal advocates wanted to greatly increase the size and control of the government so that it could act as a counterbalance to private sector industries” (Yantek, 2003). When FDR took office; the government was comparatively simple in construction with functions principally limited to administrative necessities. After his reign, government had been changed into a multifaceted organization. Opponents then as well as now contend his administration began the era of an obtrusive federal government, controlling business operations and impeding on people’s civil liberties.

“It is no exaggeration to say that he took the government when it was a small racket and made a large racket out of it” (Higgs, 1998). FDR, as he repeatedly argued, restored hopefulness to the people of American following their deep descent into misery resulting from the Great Depression and that his New Deal policies “saved capitalism.” Harry Truman attempted to complete the FDR’s concept of the New Deal by implementing the ‘Fair Deal’ following World War Two. It is often referred to as the “Third New Deal.

” (Yantek, 2003) The primary mission of FDR’s New Deal program was to save the American version of capitalism. He was continually attempting to convince business leaders of this commitment to this mission while soliciting their support. He told industrialists who was against his policies that the New Deal was essential for the ‘farsighted conservative.’

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The New Deal, a Socialist Program That Saved Capitalism Essay”, n.d.)
Retrieved from https://studentshare.org/english/1444435-the-depression
(The New Deal, a Socialist Program That Saved Capitalism Essay)
https://studentshare.org/english/1444435-the-depression.
“The New Deal, a Socialist Program That Saved Capitalism Essay”, n.d. https://studentshare.org/english/1444435-the-depression.
  • Cited: 0 times

CHECK THESE SAMPLES OF The New Deal, a Socialist Program That Saved Capitalism

Dont Call it a Comeback: Keynesianism, Crisis and Opportunity

nbsp; Nevertheless, “socialism” remains a dirty word in US politics, while a “new new deal” approach might have some resonance in a nation with a memory of the successes of Keynesianism and a strong nostalgia for the post-war period.... The credibility of neoliberalism as the ruling ideology of contemporary capitalism was undermined by the US government's response to Wall Street's dramatic collapse.... nbsp;… Political obstacles remain for either a Keynesian program or a more radical one; as Yates himself notes, many voters and workers already know something is wrong....
8 Pages (2000 words) Essay

Marx and Nietzsche

However, as the conditions for a socialist structure take shape within capitalism, it becomes a hindrance to further development.... This paper ''Marx and Nietzsche'' evaluates Marx's and Nietzsche's thoughts regarding aspects of morality, capitalism, and socialism.... The paper first analyses Marx's views regarding morality and capitalism and then proceeds to evaluate Nietzsche's views while contrasting his views with those of Marx.... Feudalism gives way to capitalism which is eventually replaced by socialism....
16 Pages (4000 words) Research Paper

Early or late industrialization

Such programs include but not limited to provision of free medical services, free education, offer of capitalism on the other hand is the belief that the government does not utilize economic resources efficiently as private entities.... This topic is important because, essentially, communism and socialism are among the main economic systems, alongside capitalism that have existed since the industrial revolution.... Since the Soviet Union abandoned the communism, the assumption that capitalism may be the only effective economic system have been aggressively marketed in the capitalist media....
9 Pages (2250 words) Essay

Soicalism in Africa

Therefore, unlike capitalism, which directed surpluses of production to the elite, socialism was designed to reward society and the working class for their participation in production.... The above scholar often criticized capitalism for its alienation of workers; he claimed that most producers were trapped in the process of creating the means of production....
9 Pages (2250 words) Essay

Social Ideologies and Government Policies

The Conservative Party introduced the new Right thinking in the UK under John Major.... Unlike capitalism which aims at private ownership and control of property; socialism believes that communal ownership and control of property is what the world needs for the benefit of everyone.... socialist ideologies stand for maximization of wealth and opportunities for all people through communal control and ownership of social services and industries....
5 Pages (1250 words) Essay

Michael Moore's Movie: Capitalism, A Love Story

The purpose of this paper is to address a number of questions based on the film capitalism, A Love Story written and directed by Michael Moore.... One could argue that it socialism, as an ideology had been developed as a response to capitalism or more importantly socialism, was developed as a response to what Marx identified as the imperfections of capitalism.... It was Marx who argued that it was almost a certainty that capitalism would cause internal class struggles and by having a system in which power was spread evenly to encompass all parties, there would be a theoretic reduction in these tensions....
13 Pages (3250 words) Research Paper

Capitalism from a Marxist Perspective

"capitalism from a Marxist Perspective" paper states that Marxist perspective showed new rays of hope to the laborers, students, women, and peasants alike.... It is, therefore, the Marxist theorists declare capitalism as the condemnable system of exploitation and maltreatment of the weaker groups and communities of society at the hands of the rich and powerful individuals.... Hence, capitalism, according to Marxists, is a form of slavery, where an overwhelming majority of the population serves as the slaves of the capitalist exploiters....
8 Pages (2000 words) Coursework

Labour Movements in Germany

the new stance contrasted the previous subtle resistance to Marxism associated with moderates in the SPD.... They also had confidence on the existing liberal and conservative parties, which they thought were competent enough to bring about essential reforms on capitalism as well as other political and social problems (Lipset 1983, p.... hellip; The prevailing hostilities to Socialists gave SPD a chance to reconstitute itself and rewrite its program (Lipset 1983, p....
8 Pages (2000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us