nt policy would wreck the nation. (V) However, economist John Maynard Keynes supported the theory of a reasonably more active government in the life of the national economy. In his statement to the New York Times, Keynes declared "The notion that, if the government would retire altogether from the economic field, business, left to itself, would soon work out its own salvation is, to my mind, foolish." ( I ) Keynes supported the policies inferred by the New Deal program; he found them (policies) favorable to a return to economic stability. In one of his earlier "fireside chats," Roosevelt identified many of the problems of the country. He outlined the New Deal program for the country. Problems included the repair of trade and commerce levels, prices for basic commodities, and as a result of these prices, the integrity of banks, savings banks, and insurance companies. (III) Many of these problems warranted its own program to focus on the calamity. These programs in turn spawned agencies and other programs. The programs formed under the New Deal program came to be known as "Alphabet Soup," for the acronyms representing their names. Roosevelt felt that perhaps the greatest obstacle for the country was the return of people to work. He felt this could be accomplished by government programs and government policies. (IV) One important New Deal program was known as NIRA, or National Industrial Recovery Act, which gave birth to the National Recovery Administration and the Public Works Administration. The primary purpose of this program was to put people back to work. (II) Between the years of 1933 and 1934, employment rose by 2.5 million jobs, a substantial gain in the war on unemployment. The success of this program is twofold. By putting people back to work, they earn wages, which can then be used to purchase goods produced by companies-a continuous cycle of money. Such programs were extremely beneficial to the welfar...
