The New Deal (1933–1941) was an abandonment of laissez-faire economics. The central government acted forcefully to alleviate the Great Depression and turn the economy around. It achieved a great deal, but it did not completely defeat the Depression. The economic transformation that accompanied World War II finally and definitively put an end to the Great Depression.
Nevertheless, the New Deal forever changed the country. Many of the programs created still exist today and play an important role in America.
One example is the Federal Deposit Insurance Corporation (FDIC). Many banks collapsed during the Great Depression, and depositors lost all their money. The FDIC still guarantees people's deposits up to $25,000.00 today.
Another legacy from the New Deal is the Securities and Exchange Commission (SEC). There had been excessive speculation in the stock market prior to its collapse in 1929. The SEC still regulates the markets.
And finally, the most important legacy is Social Security. This provided unemployment benefits and old-age insurance. It remains extremely popular today.
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