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28 January, 03:22

How did the new deal hope to stimulate industrial recovery

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  1. 28 January, 03:29
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    FDR's Relief, Recovery and Reform programs focused on emergency relief programs, regulating the banks and the stock market, providing debt relief, managing farms, initiating industrial recovery by introducing public works construction projects.

    The New Deal was responsible for some powerful and important accomplishments. It put people back to work. It saved capitalism. It restored faith in the American economic system, while at the same time it revived a sense of hope in the American people.

    In 1935, the New Deal shifted its attention to labor and urban groups. The Wagner Act increased the authority of the federal government in industrial relations and gave further organizing power to labor unions under the execution of the National Labor Relations Board (NLRB). In addition, one of the most notable New Deal programs, the Social Security Board (SSB), was enacted in 1935 and 1939, providing benefits to the elderly and to widows, unemployment compensation, and disability insurance. Moreover, maximum working hours and a minimum wage were set in some industries in 1938 (New Deal, n. d.).
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