Franklin Delano Roosevelt's (FDR's) New Deal Explained in One Minute

Franklin Delano Roosevelt's New Deal is, without a doubt, one of the most representative case studies in economic history when it comes to the willingness of the state (in our case, run by FDR) to think outside the box.

Was FDR's New Deal perfect?

Most definitely not.

The New Deal had its fair share of shortcomings but on the other hand, the charismatic Franklin Delano Roosevelt managed to do a lot of things right as well.

Hindsight is always 20/20 and the New Deal doesn't represent an exception. Whenever we're talking about an economic climate as complex as the one which preceded the New Deal, there are always things we could do better if we could travel back in time. Unfortunately, we cannot.

This much is certain however: Franklin Delano's New Deal was... well, a huge deal :)

Or, to put it differently, the New Deal represents an extremely relevant case study involving the willingness of the state to adopt a hands-on approach during times of crisis.

Oh and I've also started playing around with Patreon, my link is:

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Last but not least, if you'd like to follow me on social media, use one of the links below:

[OneMinuteEconomics]

GiganticWebsites.com is a project through which I make it possible for people to build truly gigantic websites (thousands of articles each!) at ridiculously low prices. If you have a great domain you want to turn into an amazing website or an existing site you'd like to upgrade/scale, visit our website or check out the One Minute Economics presentation video below:


Please note that this comment is not an ad for a third-party service provider. GiganticWebsites.com is my baby 100% and I will personally be involved in each and every project so as to ensure the website turns out great :)

[ronmuna]

1:02 dude I don't even understand what your saying
"niusbfjsfs hundred dollars"

[OneMinuteEconomics]

If you liked this video, I think you'll love The Age of Anomaly, my Wall Street Journal and USA Today best-selling book about preparing for financial calamities (whatever they may involve). You can buy it over at:

[Louis-exe]

This helps so much, you get right to the point but still go over whats important thanks :)

[IMKiraImani]

Thank You ! I'm studying for my American Gov CLEP Exam! I appreciate your videos<3

[OneMinuteEconomics]

I've been on YouTube long enough to know that videos about sensitive topics like this one will result in people telling me that I suck. For what it's worth, I do my best to be politically agnostic (not pick a side), which is always a surefire way to make sure everyone hates you. Or that one video will make those on the left think you're on the other side, that the next video might make those on the right believe you're a leftie and so on... c'est la vie :)

It would be the easiest thing in the world to brand myself as a socialist, capitalist or whatever. Then, I'd make this channel yet another "us vs. them" one and bam... building a community would be a gazillion times easier. Being the masochist that I am, however, I choose to do the exact opposite. Even if this means making my own life harder.

[MisterSuitcase]

How do they still make these videos using Vyond

[KennedyFinance]

I disagree with your conclusion on this one Andrei, but I applaud your videos! Great job!! Phil

[dsc]

What's going on, you turn into a robot? (almost sounds like a robo-voice)

[bigfatcody]

Where did the money come from for the new deal? Where did he borrow the money from or who did he borrow the money from? the federal reserve how did he expect to pay it back?

[seiken-_-]

The New Deal was a series of programs and policies implemented by President Franklin D. Roosevelt to address the Great Depression, focusing on relief, recovery, and reform.


Key moments:
00:00 The video discusses the use of bio-oil in various programs and policies, highlighting its benefits and impact on social development and economic systems.
-Bio-oil's role in social housing and economic development is emphasized, showcasing its potential in creating sustainable solutions.
-The video touches on the importance of bio-oil in financial systems and social security, indicating its significance in providing safety nets and stability

[jarberwoks]

"We are from the government and we are here to help"

[RoosterCogburnPhD]

0:56 isn't that just straight theft? If I was alive and had gold back then you'd best believe there would've been a tragic accident involving a huge lake and my gold stash

[fahadmatt]

second, Yooo My friend it’s been long time

[surreallife]

Wrong, I’ll explain why. It’s ridiculous to say the jobs were temporary. I don’t know if this guy just made that up.

The new deal lasted from 1930 till 1980 produced the highest wealth ever experienced for the poor and middle in all of American history. Not only that, even though taxes were very high (the nominal tax rate, look it up) on the very rich it was very high, it produced the the largest growth in terms of industry, business productivity, etc. FDR also introduced the Glass Stegall Act which disallowed banks and finance from leveraging peoples investments to ridiculous levels and then blowing up the economy.

Everything you enjoy today was produced by the left, specifically the new deal by FDR. Republicans/conservatives and conservative economists did not approve of any of these changes.

Pre-1930 there was no Social Security, no Medicare/Medicaid, no unemployment insurance, no disability insurance, FDR legalized unions, he introduced public universities (look up the G.I. Bill). Income inequality was massively reduced (look up the gilded age of free market capitalism). FDR‘s new deal. Prior to the new deal there were no minimum wage laws. In 1938, the Fair Labor Standards Act established. FDR made it legal to create unions. “By 1937, to the dismay of most corporate leaders, some 8 million workers had joined unions and were loudly demanding their rights.”

FDR implemented antitrust laws specifically anti-monopoly laws in order to make it illegal for a handful of rich people to own the media, corporations, etc.

The new deal also spread to Canada. My father immigrated here in the late 1950s he had a simple job at lumber Mill unionized and he was making about $10, 000 per year in 1970 in today’s dollars that’s about $80, 000 per year plus you could buy a house from anywhere from $5000-$40, 000 in 1970 in Vancouver. I remember when we went to Greece in 1974 for vacation. He asked for extra paid vacation time and they gave him eight weeks paid vacation instead of 4 to 6 weeks pay vacation.

This all was sabotaged around 1980. So what happened around 1980? Conservative neoliberalism was implemented by Ronald Reagan and Margaret Thatcher with the help of the conservative economist Milton Friedman, who despised everything above.

The Glass Stegall act was ignored due to Republicans and conservatives promoting deregulation and the evils of big government propaganda. Monopoly laws were ignored.

This gave way to the 2008 global financial crash. Ever since 1980 and liberalism was introduced we just have been stagnant for the poor and middle class for over 43 years. On the other hand, the very rich have increased their wealth from $8 trillion-$55 trillion

The very rich accuse the left of wanting a wealth transfer, what they don’t tell you is that there has already been a wealth transfer from the poor in middle class to the very rich. You’ve been ripped off. If you don’t want be ripped off, vote, progressive not conservative. Read about The New Deal.

Michael Pantazis

[sleepisnotnecessary]

The government "courageously try stuff"? Wow, it's so courageous to try stuff when someone else is footing the bill (the taxpayer). FDR literally paid farmers to NOT produce as much food to artificially keep food prices high.

[katrinale]

I did not understand a THING you said, no offence

[moe]

in one minute . yeah right and pigs fly

[HertZ_Za]

bro speaks so fast my brain cant even take in what is being said 😭ik u tryna give a summary of it but u can go slower, try 2-3 min long videos instead and give more information/background and go into detail about things

[sleepisnotnecessary]

The New Deal AKA "How to extend an economic depression"