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Running head: THE NEW DEAL INITIATIVE
The New Deal Initiative
THE NEW DEAL INITIATIVE
Many United States citizens criticized President Herbert Hoover for his failure to solve the
economic problem of the United States. President Hoover was majorly criticized for his belief in rugged
individualism, which emphasized equality, individual freedom, ordered liberty and decentralized selfgovernance. Hoover believed that increased government control of the economy would create
corruption and reduce competition. The economic principles developed by Hoover are linked to the
emergence of the financial depression, which eventually led to his loss of the second presidential bid
against Franklin D. Roosevelt. Notably, the United States citizens saw Roosevelt as a symbol of hope for
the nation’s economy. President Roosevelt aimed at solving the Great Depression problems through a
proposed New Deal. The New Deal addressed various problems in the U.S. economy, including despair,
financial system collapse, shrinkage of the economy, high poverty levels, and economic shrinkage.
Although the New Deal failed to end the Great Depression, it effectively solved numerous economic
problems in the USA.
Roosevelt and his political associates observed that underconsumption was the greatest
challenge for the U.S. economy. Roosevelt, therefore, portrayed the financial depression as the...
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