New Deal Era and the Term Paper

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The American government has since steered clear of measures like price regulations and has instead promoted a model that trusts the elasticity of the market. However, New Deal measures like unemployment insurance and social security have remained in place.

World War Two, rather than any direct effects of the New Deal, helped stimulate the American economy. Since the Reagan administration, the American government has followed a trajectory nearly opposite to that of Roosevelt's. Laissez-faire government attitudes toward economic growth and a dismissal of welfare needs have been touted as bulwarks against future economic depression. The market dictates the business environment, which supposedly thrives with minimal governmental intervention or regulation.

However, the American government may be facing a new crisis soon. Its national debt is astounding.

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The dollar is no longer backed by gold as it was during the Roosevelt administration, making the entire global market economy dependent on the performance of the dollar. If the dollar weakens dramatically, worldwide crisis might ensue. Moreover, American workers are not protected and would suffer greatly in a crisis situation. The government's commitment to decentralization currently precludes social services, with dire repercussions such as a lack of universal health care and a failing educational system. Therefore, New Deal measures remain viable in the 21st century and the government would do well to learn from the success as well as from the failure of Roosevelt's presidency.

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