The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

New Deal

  • Price V. Fishback
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2554

Abstract

US President Franklin Roosevelt’s New Deal created the most dramatic peacetime expansion of government in American economic history. It established the basic structures for modern federal/state social welfare programmes, farm programmes, labour policies, regulations of many industries, and government insurance of deposits and mortgages. Roosevelt experimented with a cartel-like industrial policy that was declared unconstitutional by the Supreme Court. The emergency public works and relief programmes built a large number of roads, dams, and other public works, and employed millions of labourers. Recent studies suggest that the impact of the New Deal varied greatly by programme.

Keywords

Banking crises Cartels Child labour Civilian Conservation Corps (USA) Farm programmes Federal Reserve System Friedman, M. Gold standard Great Depression Hoover, H. Internal migration Keynes, J. M. Minimum wages Monetary policy National Labor Relations Boards (USA) National Recovery Administration (USA) New Deal Pensions Protection Public works Real business cycles Reconstruction Finance Corporation (USA) Roosevelt, F.D. Schwartz, A. Smoot–Hawley Tariff Act of 1930 Social Security in the United States Trade unions Unemployment insurance Works Progress Administration (WPA) 
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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Price V. Fishback
    • 1
  1. 1.