How Did The New Deal Affect The Economy

On October 29, 1929, the stock market crashed, as did the United States economy. It triggered one of the most severe economic depressions in American history, called the Great Depression. During this period, America faced major economic, social, and political changes, one being the change in office. In 1933, Franklin D. Roosevelt was elected President of the United States of America and one of the first things he did during his presidency installed the New Deal. The New Deal was a collection of programs and policies set up to bring the US out of its economic slump and provide relief for the people. However, it failed in doing so. The New Deal benefited few during the Great Depression and was not the driving force behind overcoming it. From the East Coast to the West Coast, the economy performed poorly, women were unable to benefit from most programs, as were many minorities groups such as African Americans (New Deal, 2009).
With the crash of the stock market, the United States economy was left in ruins and the people were scrambling to hold on to whatever possessions they could. Companies, banks, and other businesses went either bankrupt or lost a substantial amount of money, forcing mass firings to happen. The people were left unemployed with little money left due to banks closing and overwhelmed with debt. People starved, lost their homes, many became homeless, and others traveled far to find employment. Right before the market crash, otherwise known as Black Tuesday, the …show more content…
For instance, the Secretary of Labor, Francis Perkins, became the first female member of the Cabinet. Women during this time were also able to sit in seats of power in many New Deal organizations. The point of taking these measures was to ensure that women would get the same work opportunities as men (Leuchtenburg, n.d.). Ultimately, though, these measures failed in