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21 Total Votes
1

Yes, the New Deal prolonged the Great Depression

11 votes
3 comments
2

No, his New Deal helped to pull the US out of the Great Depression

9 votes
2 comments
3

His New Deal had some positives and negatives, but was mostly neutral

1 vote
0 comments
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Varrack says2016-09-23T03:23:00.5361285Z
I'm not sure. What was wrong with the New Deal?
triangle.128k says2016-09-23T03:39:01.3774877Z
@Varrack FDR had delayed the re-opening of banks and business through burdensome regulations, he cut down the production of farming which lead to a loss of major revenue for some, especially African American landlords. Also his taxation policy was god awful, and it took a lot of money from investors, industrialists, big businesses, etc. Overall, that only created more government dependence and gave the government more and more responsibility to provide for the people which hit the economy pretty hard. Stealing from the rich was never a good idea, given the role they are in charge of for the American economy. I could give more specific examples if I had more time.
triangle.128k says2016-09-23T03:43:42.5692902Z
Overall, you could say his New Deal was just a massive failure of Keynesian stimulus and shifting of parts of the economy to the public sector. The agencies were basically Socialism which had out of control spending.
reece says2016-09-23T05:24:15.8923651Z
@triangle.128k You need to take the Second New Deal into consideration. The First New Deal was mostly for reinforcing the economy so that another crash didn't happen. The Second New Deal was the actual recovery.
Theunkown says2016-09-23T05:33:48.0596307Z
Keynesian economics and expansive demand side policies work wonders during recession time, when there is a huge lack of aggregate demand (Lack of consumption, lack of government spending, lack of investment). Government spending can provide jobs and improve infrastructure which increases consumption (jobs = money = buy stuff) and increases investment (Better infrastructure = business works better = more profits = more investments). This is exactly what happened during the new deal. This won't work in every single circumstance however.
Theunkown says2016-09-23T05:33:58.5405000Z
Keynesian economics and expansive demand side policies work wonders during recession time, when there is a huge lack of aggregate demand (Lack of consumption, lack of government spending, lack of investment). Government spending can provide jobs and improve infrastructure which increases consumption (jobs = money = buy stuff) and increases investment (Better infrastructure = business works better = more profits = more investments). This is exactly what happened during the new deal. This won't work in every single circumstance however.
triangle.128k says2016-09-23T19:32:58.2647523Z
@Theunkown Infrastructure is literally one of the only exceptions where government can get right. Keynesian-style stimulus economics are a lot slower with recovering from recessions than Austrian free market economics.
triangle.128k says2016-09-23T19:35:04.7675850Z
Massive spending doesn't do anything but shift the economy to the government, and doesn't do anything but harm private sector job growth/consumption. Rather, it creates a massive welfare state and government dependency, and when has the public sector ever been as good as the private sector? There's only a very few exceptions where the public sector performs better.
triangle.128k says2016-09-23T19:37:12.0504327Z
@reece The second New Deal prolonged the depression, and the economy continued to downfall under FDR. What brought the US out of the depression was creating a wartime economy during World War II, where jobs were created related to the military.
Anonymous says2016-09-23T20:14:23.4861441Z
Triangle, well said.
reece says2016-09-24T06:49:36.1131027Z
@triangle.128k America isn't set up like Communist China. It takes time for policies to kick in. It's funny how some people praise the current government about something when a former government put it into action. The Second New Deal included the Wagner Act to promote labor unions, the Works Progress Administration (WPA) relief program (which made the federal government by far the largest single employer in the nation). So no, jobs related to the military weren't a large factor if that's what you were implying. There was also the Social Security Act, and new programs to aid tenant farmers and migrant workers. The final major items of New Deal legislation were the creation of the United States Housing Authority and Farm Security Administration, both in 1937, and the Fair Labor Standards Act of 1938, which set maximum hours and minimum wages for most categories of workers. He kinda had to. The administrations after FDR tended to keep his policies.
reece says2016-09-24T06:58:05.0039648Z
Reece, well said.
reece says2016-09-24T07:14:29.9630786Z
The concept that the New Deal actually prolonged the Great Depression was popularized by Amity Shlaes book The Forgotten Man. It's been debunked so many times.

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