Argumentative Essay. Evaluating the Policies of the New Deal.

Evaluating the Policies of the New Deal
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Evaluating the Policies of the New Deal
During the great depression, the United States of America elected Franklin Delano Roosevelt (FDR) as the new president. During the campaign period, FDR had promised to implement various measures that would aid in the economic recovery as well as provide help to many citizens who needed it at the time. Despite the promises being unclear, people believed in him and elected. FDR’s plans were implemented through the New Deal, which was a series of programs, projects, and policies that affected different sectors of the economy. The New Deal was characterized by various successes and failures, and it went too far in providing aid to Americans.
For instance, various policies in the New Deal help stabilize the financial industry in the United States. The Emergency Banking Act, which later became the Glass-Steagall Banking Act, helped to restore confidence in the banking industry. Through the Emergency Banking Act, FDR was able to create an audit team that examined all the records of banks before they opened, which ensured that only organizations that were declared solvent could conduct business (Corbett, Janseen, Lund, Pfannestiel, Vickery, & Waskiewicz, 2014). The approach helped restore faith in banking among Americans. The Glass-Steagall Banking Act also prevented banks from engaging in risky ventures with customers’ deposits, such as speculating in the stock market(Corbett, Janseen, Lund, Pfannestiel, Vickery, & Waskiewicz, 2014). Further, the Securities Act increased the safety measures for stock trading companies, which enhanced investments. Thus, the various policies under the New Deal were successful in stabilizing the financial industry.
Additionally, the New Deal included programs that directly helped Americans in need of financial assistance. The Federal Emergency Relief Act (FERA) provided grants to states to create jobs through The Civil Works Administration (CWA). The Civilian Conservation Corps (CCC) was also successful in creating much-needed jobs for Americans. The Homeowners Loan Corporation was also successful in helping families that were facing foreclosure, which prevented homelessness (Corbett, Janseen, Lund, Pfannestiel, Vickery, & Waskiewicz, 2014). The Social Security Act was also a success since the policy is still in operation today. FDR managed to balance the relief aid and to take steps to stimulate the economy, which was a different approach than the one proposed by Huey P. Long. Long wanted to liquidate large personal fortune and give the proceeds to those in need (Long, 1934). His approach would have likely had a negative impact on the economy due to giving people money at a time when production was ineffici...