How did FDR's policies aim to end the Great Depression?

FDR's policies aimed to end the Great Depression by creating jobs, providing relief, and reforming the financial system.

Franklin D. Roosevelt, often referred to as FDR, introduced a series of programmes and policies known as the New Deal to combat the Great Depression. The New Deal had three main goals: relief for the unemployed, recovery of the economy, and reform of the financial system to prevent future depressions. One of the first actions FDR took was to declare a "bank holiday" to stabilise the banking system. This allowed the government to inspect banks and only reopen those that were financially sound, restoring public confidence.

To address unemployment, FDR created several agencies to provide jobs. The Civilian Conservation Corps (CCC) employed young men in environmental projects like planting trees and building parks. The Works Progress Administration (WPA) was another significant programme that provided jobs in public works projects, such as constructing roads, schools, and hospitals. These initiatives not only reduced unemployment but also improved the nation's infrastructure.

FDR also introduced social welfare programmes to provide direct relief to those in need. The Social Security Act of 1935 established pensions for the elderly and unemployment insurance, offering a safety net for vulnerable populations. Additionally, the Federal Emergency Relief Administration (FERA) provided direct financial assistance to the unemployed.

To reform the financial system, FDR implemented regulations to prevent the risky behaviours that had led to the stock market crash of 1929. The Securities Act of 1933 and the Securities Exchange Act of 1934 aimed to regulate the stock market and protect investors. The Glass-Steagall Act separated commercial banking from investment banking, reducing the risk of financial speculation.

Overall, FDR's New Deal policies were designed to provide immediate relief, create jobs, and implement long-term reforms to stabilise the economy and prevent future economic crises.