Monday, March 17, 2014

The New Deal

The New Deal was the set of federal programs launched by President Franklin D. Roosevelt after taking office in 1933, in response to the calamity of the Great Depression.

FDIC: a government agency that insures customer deposits if a bank fails, it was a last resort to restore trust in the nation's financial system

SEC: an independent federal agency created by the Securities Exchange Act of 1934. The Commission regulated the stock market

TVA: to modernize the Tennessee Valley area using electricity and federal experts. This area that includes most of Tennessee and parts of several other states surrounding Tennessee was extremely hard hit by the Great Depression.

SSA: to help those who were elderly, disabled, ect... pretty much those who can not work

NLRA: it determines and implements, through secret ballot elections, the choice by employees as to whether or not they wish to be represented by a union (and if so by which union) in dealing with their employers

WPA: employing millions of unemployed people (mostly unskilled men) to carry out public works projects, including the construction of public buildings and roads. In much smaller but more famous projects the WPA employed musicians, artists, writers, actors and directors in large arts, drama, media, and literacy projects.

FLSA:  introduced a maximum 44-hour seven-day workweek, established a national minimum wage, guaranteed "time-and-a-half" for overtime in certain jobs, and prohibited most employment of minors in "oppressive child labor", a term that is defined in the statute

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