U.S. History -- Great Depression Term Paper

Similarly, FDR initiated the Securities and Exchange Commission. FDR served four terms and would be the last president to serve more than two terms in office.

The New Deal was built upon Roosevelt's belief in the power of the federal government to alleviate the financial woes of the nation. Although unpopular to some, many of the New Deal programs proved to be promising in both the short- and the long-term. Opponents of the New Deal generally disagree with the theory of big government; the New Deal epitomizes big government but in the wake of the Depression only such broad programs could have taken root and alleviated the suffering of so many Americans. The New Deal definitely contributed to the American economy's revival but the Second World War would help, too.

One of the reasons for the Great Depression, according to Roosevelt and his supporters, was the proliferation of big business, trusts, and monopolies. The Industrial Revolution meant that many huge conglomerates controlled the bulk of the market and thus, of the American and global economy. With so much trust placed in the hands of so few, average consumers had little power and fewer assets with which to control or change their economy. Moreover, the First World War led to an expenditure boom that initially benefited industry and big business. When, as years went buy debts remained unpaid, the economy collapsed. President Roosevelt admonished big business and helped install some of the checks on monopolistic power through federal legislation of key industries and services. Some of Roosevelt's New Deal measures were stamped out almost as soon as they were passed, but in general his programs would help millions of Americans including laborers and farmers to get back on their feet. The Second World War would boost the economy further, by stimulating investments into key war-related and ancillary industries.

References

Great Depression." Wikipedia. Retrieved Aug 4, 2006 at http://en.wikipedia.org/wiki/Great_Depression

New Deal." Wikipedia. Retrieved Aug 4, 2006 at http://en.wikipedia.org/wiki/New_Deal