this: the policy program of US President Franklin D. Roosevelt

The New Deal was the name that United States President Franklin D. Roosevelt gave to a sequence of programs he initiated between 1933 and 1938 with the goal of giving work (relief) to the unemployed, reform of business and financial practices, and recovery of the economy during The Great Depression.

The "First New Deal" of 1933 was aimed at short-term recovery programs for all groups. The Roosevelt administration promoted or implemented banking reform laws, emergency relief programs, work relief programs, agricultural programs, and industrial reform (the NRA), as well as the end of the gold standard and prohibition.

A "Second New Deal" (1935–36) included labor union support, the WPA relief program, the Social Security Act, and programs to aid farmers, including tenant farmers and migrant workers. The Supreme Court ruled several programs unconstitutional; however, most were soon replaced, with the exception of the NRA.

Most of the relief programs were shut down during World War II by the Conservative Coalition (i.e. the opponents of the New Deal in Congress). Many regulations were ended during the wave of deregulation in the late 1970s and early 1980s. Several New Deal programs remain active, with some still operating under the original names, including the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). The largest programs still in existence today are the Social Security System and Securities and Exchange Commission (SEC).

Origins

The initial crash of the U.S. stock market occurred on Thursday October 24, 1929; then, on "Black Tuesday" October 29, the stock market fell even more than it had the week before. These events were the catalyst of a worldwide economic depression.

From 19291933, unemployment in the U.S. increased from 4% to 25%, manufacturing output reduced by approximately a third. Prices fell causing a deflation of currency values, which made the repayments of debts much harder. The mining, lumber, and agriculture industries were hit especially hard by the drop in values. The impact was much less severe in white collar and service sectors.

Upon accepting the 1932 Democratic nomination for president, Franklin Roosevelt promised "a new deal for the American people." (The phrase was borrowed from the title of Stuart Chase's book A New Deal published earlier that year):

Roosevelt entered office with more than one ideology or plan for dealing with the great depression. In the "First New Deal" (1933-34) many organized liberal groups (except the Socialist Party, which was virtually destroyed) gained much of what they had demanded. This "First New Deal" was thus a blend of self-contradiction, pragmatism, and experiment. The economy eventually recovered from the low point of 1932, with sustained improvement until 1937, when the Recession of 1937 brought back 1934 levels of unemployment. Whether the New Deal was responsible for the recovery, or whether it slowed the recovery, has been disputed.