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2. Bold, Persistent Experimentation

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About this Lecture

Lecture

In this module, we think about Roosevelt's belief in "bold, persistent experimentation" and the extent to which the New Deal evolved over the course of the 1930s. In particular, we focus on: (i) Roosevelt's belief in "bold, persistent experimentation" in solving the economic problems that he faced when he became President; (ii) the extent to which Roosevelt was willing to try a range of ides to solve to economic crisis – but also wanted to be the person who provided the economic leadership; (iii) the character and policies of the 'First New Deal' (1933-35): abandonment of the gold standard, devaluation of the dollar, etc.; (iv) the character and policies of 'Second New Deal' (1935-36) increased competition between businesses, the Wagner Act, etc.; and (v) the character and policies of the 'Third New Deal' (1937-41): the recession of 1937-38, increase in government spending, etc.

Course

In this course, Professor Peter Fearon (University of Leicester) explores Franklin D. Roosevelt's New Deal. In the first module, we think about the problems facing the US economy when Roosevelt came to power in March 1933, including the almost total collapse of the banking system, high levels of unemployment, and rapid deflation. In the second module, we think about Roosevelt's belief in "bold, persistent experimentation" in tackling these problems, before turning in the third module to explore the initiatives implemented by Roosevelt to support the US businesses – particularly in the financial and agricultural sectors. In the fourth module, we think about the range of social welfare programmes implemented as part of the New Deal – including programmes such as the Federal Emergency Relief Administration (FERA) and the Works Progress Administration (WPA), and the establishment of social security and old age pensions – before turning in the fifth module to think about the longer-term legacy of the New Deal.

Lecturer

Professor Peter Fearon is Emeritus Professor of Modern Economic and Social History at the University of Leicester. His research interests centre on economic change in the United States in the 20th century, agricultural history of the mid-West in the 1920s and 1930s and the New Deal economic and social policies.