New Deal

:Alternative meaning: New Deal (United Kingdom)

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The New Deal was President Franklin D. Roosevelt's legislative agenda for rescuing the United States from the Great Depression. It was based on the idea that the depression was caused by the inherent instability of the market and that government intervention was necessary to rationalize and stabilize the economy.

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On October 29, 1929, the crash of the U.S. stock market—known as "Black Tuesday"—heralded the beginnings of a worldwide economic crisis. In 1929-1933, unemployment in the U.S. soared from 3 percent of the workforce to 25 percent, while manufacturing output collapsed by one-third.

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Upon accepting Democratic nomination for president on July 2, 1932, Roosevelt promised "a new deal for the American people," a phrase that has endured as a label for his administration and its many domestic changes. Meanwhile, other governments worldwide sought economic recovery by adopting restrictive autarkic policies (high tariffs, import quotas, and barter agreements) and by experimenting with new plans for their internal economies. Britain adopted far-reaching measures in the development of a planned national economy. In Nazi Germany economic recovery was pursued through rearmament, conscription, and public works programs. In Mussolini's Italy the economic controls of his corporate state were tightened. Observers throughout the world saw in the massive program of economic planning and state ownership of the Soviet Union what appeared to be a depression-proof economic system and a solution to the crisis in capitalism.

President: President is a title held by many leaders of organizations, companies, universities, and countries. Etymologically, a "president" is one who presides, who sits in leadership (from Latin prae- "before" + sedere "to sit"). Originally, the term usually referred to the presiding officer of a ceremony or...

Franklin D. Roosevelt: ::FDR redirects here. For other uses, see FDR (disambiguation)....

United States: :For other uses, see US (disambiguation), USA (disambiguation), and United States (disambiguation)....

New Deal related Images and Photos (experimental)

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