THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the reduction of the national debt.
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control of stock prices by the Federal Government,
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joint effort of business and labor to strengthen the Presidency.
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assumption by the Federal Government of greater responsibility for the nation’s well-being,
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Detailed explanation-1: -The New Deal’s greatest legacy was a shift in government philosophy. As a result of the New Deal, Americans came to believe that the federal government has a responsibility to ensure the health of the nation’s economy and the welfare of its citizens.
Detailed explanation-2: -The New Deal created a broad range of federal government programs that sought to offer economic relief to the suffering, regulate private industry, and grow the economy. The New Deal is often summed up by the “Three Rs”: relief (for the unemployed)
Detailed explanation-3: -Lichtenstein notes, several programs created through the New Deal did have a lasting positive impact on the U.S. economy which was flagging throughout the 1930s, among them the Social Security Act, which provided income for the elderly, disabled and children of poor families.
Detailed explanation-4: -Despite the importance of this growth of federal responsibility, perhaps the greatest achievement of the New Deal was to restore faith in American democracy at a time when many people believed that the only choice left was between communism and fascism.