Interest group democracy was an attempt by the

American President The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the executive branch of the federal government and is the commander-in-chief of the United States ...

Franklin D. Roosevelt Franklin Delano Roosevelt (; ; January 30, 1882April 12, 1945), often referred to by his initials FDR, was an American politician and attorney who served as the 32nd president of the United States from 1933 until his death in 1945. As the ...

to create broad support for the New Deal by giving major

interest group Advocacy groups, also known as interest groups, special interest groups, lobbying groups or pressure groups use various forms of advocacy in order to influence public opinion and ultimately policy. They play an important role in the developm ...

s at least part of what they wanted. In addition to aiding

bankers A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becaus ...

, farmers, corporations, and the

unemployed Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the refere ...

Congress A congress is a formal meeting of the representatives of different countries, constituent states, organizations, trade unions, political parties, or other groups. The term originated in Late Middle English to denote an encounter (meeting of ...

enacted legislation to helping

homeowners Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insura ...

, stock investors, and the

railroads Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prep ...

Implementation

The Home Owners Refinancing Act provided two billion dollars to refinance home mortgages facing foreclosure. The

Federal Housing Administration The Federal Housing Administration (FHA), also known as the Office of Housing within the Department of Housing and Urban Development (HUD), is a United States government agency founded by President Franklin Delano Roosevelt, created in part by ...

(FHA) was created to help new home buyers secure low

interest In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distin ...

mortgages A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any ...

. The FHA encouraged bankers to lower their interest rates by guaranteeing repayment of home mortgage loans. The Securities Act of 1933 required stockbrokers to provide investors with full information about new stock issues. The Emergency Railroad Transportation Act enabled

bankrupt Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...

railroads to reorganize.

Results

Roosevelt's approach to solving the nation's economic problems produced modest results. The number of unemployed fell from 13 million in 1933 to 11.4 million the following year. Farm income rose about 50% although it remained well below its 1929 level. Industrial production and wages in manufacturing slowly moved upward. But despite these indications of progress, the nation remained caught in the grip of the worst economic depression in its history.

References

Presidency of Franklin D. Roosevelt New Deal Types of democracy {{US-history-stub

Implementation

Results

See also

References