The New Deal
"The New Deal" is the name of series of legislative initiatives between 1933 and 1938 which greatly expanded governments role in the economy with . FDR helped create agencies like the, National Recovery Administration, Civilian Conservation Corps, the Works Progress Administration, Securities and Exchange Commission, the National Labor Relations Board in order to reinvigorate the economy. Despite FDR’s intentions, New Deal programs had the opposite effect. The government out-competed the private sector for resources while creating many jobs for which there was no consumer demand. This not only harmed existing businesses, but caused what economic historian Robert Higgs calls regime uncertainty as entrepreneurs refrained from starting new projects since they could not appropriately anticipate the effects of future government interventions.
Burt and Anita Folsom - FDR, the New Deal, and the Expansion of Federal Power (Reason TV)
Burt Folsom - FDR and the Great Depression
FEBRUARY 11, 2009 by LARISSA PRICE
Assuming Obama and his advisers are right -- that his plan will indeed save or create that many jobs -- what proof do we have that it will leave us better off than if it's not implemented at all?