Did Fdr Endanger The Economic Essay, Research Paper
Did FDR endanger the economic prosperity and well being of the nation?
Contrary to the charge, FDR did not endanger the economic prosperity and well being of the nation. In fact, FDR s actions as president have rescued the nation s economy and have improved our economic future. The setting of a national minimum wage and giving workers the right to organize (through the NRA) will result in a happier, wealthier American working class that will have more disposable income to spend on consumer goods and services. Thus, those two reforms will actually stimulate the economy rather than endanger it. In much the same way, the creation of government-funded jobs will reduce unemployment, giving a good portion of the population some buying power that they not otherwise would have. Job competition with commercial businesses is not a problem, as the government pays significantly less than most businesses. The temporary closing of banks was an excellent way to ensure the safety of peoples deposits and to restore confidence in the banking system. So the temporary closing of banks was actually good for the then-ailing economy. The relief, or welfare given to the unemployed by FERA in the first Hundred Days was a temporary measure called for by the desperate times. The handouts to the unemployed served only to help them survive, not to make them lazy and dependant. In regards to Social Security, because it only goes into effect after retirement at 65, it does not create a dependency that endangers national productivity. Rather, the recipients of Social Security are not in good enough shape to make much of a contribution in terms of productivity.