World War II An Answer to the Great Depression - 1849 Words

The Great Depression era was a dark moment in history for American economic history, however often times we overlook the tremendous response from our federal government. President Roosevelt used the power of the presidency to pass several monumental pieces of economic legislation such as the Emergency Banking Act and the Glass-Steagall Act. Roosevelt’s administration also passed legislation that formulated various social programs such as the Public Works Program and the Federal Housing Authority. These programs were largely focused on providing temporary relief for American citizens. Furthermore, many Americans were employed to construct parks, roads, and bridges. World War II also played a big part in stimulating the American†¦show more content†¦The FHA was a piece of legislation that provided a ripple effect on the economy from the bottom up. Had the legislation not been enacted, creditors would have found it harder to finance mortgages for the average Americ an, who more than likely was suffering due to the economic downturn. The FHA managed to have a huge effect on the economy without loaning out money. The FHA largely acted as an insurance program to creditors in the case that the consumer defaulted on the mortgage. Hyman stated, â€Å"The federal government organized the FHA, but private capital paid for it and profited from it.† The Public Works Administration was another way for Roosevelt to combat lack of labor during the Great Depression, while also improving the country’s infrastructure. The PWA was founded in 1933 under the National Industrial Recovery Act, the program was allocated roughly three billion dollars and was overseen by Harold Ickes. The PWA was seen as a program to test whether economic problems could best be addressed by government public programs. In addition, the program was used as a way of combating the poorest urban sectors of the country. Workers were hired by the federal government to construct roads, bridges, and other transportation structures. The PWA was enacted with several other federal government programs to achieve similar goals, such as the WorksShow MoreRelatedWorld War II And The Great Depression1658 Words   |  7 Pages The highly numbered risks of war have rigorous effects on societies around the world. World War II had positive and negative effects during and after the war. After the war, the formation of the United Nations helped negotiate and maintain peace, and during the war more jobs helped get the United States out of its biggest economic crisis, the Great Depression. 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