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Essay / Research Paper Abstract
A 5 page paper that supports the notion that FDR saved capitalism from itself. When Roosevelt took office, the country was in an economic crisis. Laissez-faire policies, excessive industrialism and crony capitalism were the order. Roosevelt changed all this with his New Deal. This essay provides an explanation of why FDR is credited with saving capitalism. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGfdrcap.rtf
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Unformatted sample text from the term paper:
and Eleanor Roosevelt Institute, n.d.). Domestic challenges also included laissez-fair policies, industrialism gone rampant and crony capitalism. He initiated numerous programs and spurred legislation that gave the government more power
and authority in the private sector (Greenberg, 2004). Roosevelts programs, policies and laws saved capitalism from itself (Greenberg, 2004). Roosevelt initiated social programs intended to help the poor rather
than the rich (Schlesinger, 1998). FDRs New Deal was comprised of "measures for social protection, regulation and control" (Schlesinger, 1998). With more than 13 million people out of work, the
unemployment rate was in excess of 25 percent in the nation (Schlesinger, 1998). In some cities, the unemployment rate was as high as 50 percent, e.g., Chicago (Franklin and Eleanor
Roosevelt Institute, n.d.). To say Americans were disenchanted with democratic institutions would be an understatement. Critics called him a socialist and criticized his New Deal measures accusing him of
moving the country towards communism (Schlesinger, 1998). But, Roosevelt knew that unemployment compensation, rural electrification, Social Security, public works, farm price supports, reciprocal trade agreements, minimum wages with maximum hours,
collective bargaining and securities regulations would "save capitalism from itself" (Schlesinger, 1998). He also knew his programs would also not diminish democracy, as many of his critics argued (Schlesinger, 1998).
Before Roosevelt took office, the country had suffered a depression about every two decades, each time resulting in massive loss of jobs and severe economic crises (Schlesinger, 1998). Roosevelts
New Deal had built-in economic stabilizers that protected the nation against major depressions for more than five decades (Schlesinger, 1998). Of course, these stabilizers were very unwelcome by the major
business leaders at the time but they worked (Schlesinger, 1998). Speaking out against the charges being made by business leaders, those who were part of crony capitalism, Roosevelt, in his
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