Roosevelt's New Deal offered hope in desperate times. We can do the same now
Roosevelt's New Deal offered hope for the desperate. We can do the same now | Eric Rauchway
The current, acute crisis in unemployment is likely to become a chronic condition that, even if it waxes and wanes, will not remedy itself. Like the Great Depression, it demands intervention not only to resume trade and employment, but also to preserve the institutions we cherish.
Roosevelt promised public works and jobs, labour rights, and a transition to more sustainable practices of production. He acknowledged that he, too, would like a balanced budget – once the nation had spent the necessary amount to end the depression. He espoused “the philosophy of social justice”, rejecting “trickle down” prosperity and preferring instead to “make the average of mankind comfortable and secure [so] their prosperity will rise upward, just as yeast rises up”.
Roosevelt's New Deal offered hope for the desperate. We can do the same now | Eric Rauchway
The current, acute crisis in unemployment is likely to become a chronic condition that, even if it waxes and wanes, will not remedy itself. Like the Great Depression, it demands intervention not only to resume trade and employment, but also to preserve the institutions we cherish.
Roosevelt promised public works and jobs, labour rights, and a transition to more sustainable practices of production. He acknowledged that he, too, would like a balanced budget – once the nation had spent the necessary amount to end the depression. He espoused “the philosophy of social justice”, rejecting “trickle down” prosperity and preferring instead to “make the average of mankind comfortable and secure [so] their prosperity will rise upward, just as yeast rises up”.