"Underlying most arguments against free market is the lack of belief in freedom itself." [Milton Friedman] When deciding to what extent should the government intervene in the economy, the following questions must be answered: Does the economy experience periods of boom and bust? Are the goods of high quality? Is there equality, or disparity? Answering these questions spawned many philosophies; the most prominent being capitalism and socialism. Capitalism is an economic system in which the …
showed first 75 words of 1247 total

showed last 75 words of 1247 total
…National Industrial Recovery Act, to reduce unemployment. In 1935, Roosevelt established several programs of social reform. Including his acts to create a social security system, recognize labour unions, and he also created a Works Progress Administration (WPA). This administration was designed to aid the unemployed and did; one year later it had employed more than 3.4 million individuals. The New Deal helped a struggling nation get back on their feet and improved standard of living for most.