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Question 42 The New Deal: Answers: a. was based on socialism. Amid this economic contraction, Franklin Roosevelt campaigned for the U.S. presidency on the promise of a “new deal” for the American people. REFORM: THE BANKING CRISIS. c. included a reliance on economic planning. A planned economy is a type of economic system where investment, production and the allocation of capital goods take place according to economy-wide economic plans and production plans. Question 43 e. was similar to Stalin"s economic policy. d) was similar to Stalin’s economic … e) Great Society. Despite FDR's New Deal, … Consequently, the New Deal was a series of short-term economic initiatives that lacked the long-term vision or planning that was necessary for truly revolutionary changes. Despite the coronavirus pandemic and the resultant ravaging of the global economy, the Deal Street managed to grow 7 per cent in 2020 over 2019 to about USD 80 billion across 1,268 transactions, thanks to a string of big-ticket deals by Reliance, according to a report. FDR embraced Keynesian economic policies and fought to expand the role of the federal government in the nation's economy. b) was based on socialism. Most bills could be grouped around issues of relief, recovery, and reform. Instead of tinkering around the edges of existing grant programs, now is the time to think about bold new tools for investment. Before the New Deal (1797-1932), there were 33 major economic downturns, 22 recessions, four depressions, and seven bank runs and panics. The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939. When Roosevelt took office, he faced one of the worst moments in the country’s banking history. Conservatives condemned many New Deal concepts as socialist policies that undermined the country?s principles of self-reliance and private enterprise. They impacted 60 of the 132 years covered. c) was based on fascism. d. was based on fascism. At the outset of the First New Deal, specific goals included 1) bank reform; 2) job creation; 3) economic regulation; and 4) regional planning. b. rejected the thinking of John Maynard Keynes. For example, in 1933, President Roosevelt spearheaded the National Industrial Recovery Act, which proposed a national economic planning system to replace the existing capitalist structure. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. Other historians assess the legacy of the New Deal depending on their own political stand. 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