Julian Zelizer Answers Your Political-History Questions:
Q: Do you think the the New Deal did anything to help with the Depression?
A: Yes it did. I don’t agree with the argument that the New Deal did not help with the Depression. The New Deal did not end the Depression, that’s true. World War II finally revived the economy. But the New Deal had a huge impact. It created a number of programs such as public works and the Wagner Act that helped Americans improve their incomes and gain job security between 1933 and 1940. The Banking Act helped end the panic that had brought financial institutions to the brink of collapse. Through programs like the T.V.A., the New Deal strengthened the nation’s infrastructure — bringing electricity, for instance, to parts of the country that were severely underdeveloped — so that those communities could be a full part of the economic growth of the 1950’s and 1960’s. The expansion of unions, regulation of financial markets, and more were all extremely important to the economic growth of the future. The New Deal also created a commitment by the federal government to protect the security of citizens. That commitment, which was psychological, played an important role in keeping Americans faithful to the capitalist economic system and creating the kind of confidence that is essential to an economic rebound.
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