In today’s episode of the The Explaining History podcast we revisit Gary Gerstle’s Rise and Fall of the Neoliberal Era. Here we explore the New DealThe New Deal Full Description:A comprehensive series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt. It represented a fundamental shift in the US government’s philosophy, moving from a passive observer to an active manager of the economy and social welfare. The New Deal was a response to the failure of the free market to self-correct. It created the modern welfare state through the “3 Rs”: Relief for the unemployed and poor, Recovery of the economy to normal levels, and Reform of the financial system to prevent a repeat depression. It introduced social security, labor rights, and massive infrastructure projects. Critical Perspective:From a critical historical standpoint, the New Deal was not a socialist revolution, but a project to save capitalism from itself. By providing a safety net and creating jobs, the state successfully defused the revolutionary potential of the starving working class. It acknowledged that capitalism could not survive without state intervention to mitigate its inherent brutality and instability.
Read more Era that preceded it and examine the philosophical underpinnings of the historic project of rebalancing American capitalism through state intervention. Help the podcast to continue bringing you history each weekIf you enjoy the Explaining History podcast and its many years of content and would like to help the show continue, please consider supporti