From 1924 to 1929, the capitalist world ushered in its glory during the Coolidge era, which attracted much attention. But then, the Great Depression from 1929 to 1933 put global capitalism in deep trouble. These major turning points and many initiatives in Roosevelt's New Deal are indeed worthy of our in-depth study and detailed analysis.

From 1924 to 1929, the capitalist world ushered in a period of prosperity known as the Coolidge Boom.

During this period, mainly taking the United States as an example, the industry developed rapidly and emerging industries continued to emerge.

Factories in the city are operating at full speed and are constantly adopting new technologies. The boom of the automobile industry is particularly prominent. Cars have begun to enter the homes of ordinary people on a large scale.

After producing a large number of goods, it is time to start selling. This process promotes business prosperity. As a result, department stores in the city attracted a large number of customers, with people coming and going and being bustling.

Behind this prosperity is also the factor of deepening foreign economic ties.

The United States was very competitive in international trade at that time.

Our country has a vast territory. Despite this, we still strive to sell various products, including machinery and equipment and agricultural and sideline products, overseas. These export businesses have enabled our country to earn substantial US dollar income, which in turn has promoted the rapid growth of the domestic economy.

Since 1929, the capitalist world has been shrouded in the shadow of economic crisis.

Data show the problem is serious, with industrial production significantly reduced. By 1933, industrial production in capitalist countries had dropped by 40%, returning to the level of the late 19th century.

Many factories in the United States have shut down and workers have lost their jobs.

The once bustling factory area became dead.

The decline of industry was accompanied by a contraction of trade.

Total capitalist world trade has decreased by 2/3.

In the ports of coastal cities, the once busy docks have now become deserted, with few people coming and going. Cargo ship traffic has also become sparse.

Many trading companies have closed down one after another, causing people working in this industry to generally lose their economic income.

In the early days of the economic crisis, the Hoover administration was in power.

He chose traditional means to deal with the crisis. The main measure was to put pressure on the companies involved and urge them to maintain current salary standards, with the purpose of ensuring the stability of consumption levels.

However, these measures failed to fundamentally solve the problem, and the economy continued to decline.

The Hoover administration failed to establish an effective economic regulation mechanism, which caused the job market to continue to deteriorate. Workers' wages continue to fall, and many have lost their homes and livelihoods. At the same time, the number of poor people is also increasing.

Hoover believed in the principles of a free market economy, and he had a firm belief in the economy's ability to self-regulate. However, this view led him to appear hesitant and afraid to take decisive large-scale reform actions when encountering economic difficulties.

The crisis did not abate but intensified, and people's resentment and dissatisfaction with the Hoover administration continued to rise.

After taking office as President of the United States in 1933, Roosevelt launched the New Deal to deal with the crisis.

The New Deal addresses many aspects, including finance, industry, agriculture, etc.

First, clean up banks in the financial sector and let people trust the bank savings system again.

After a period of closure and rectification, many banks have resumed operations one after another. Subsequently, everyone deposited their savings into these banks.

On the industrial side, the National Industrial Recovery Act was promulgated, which was the core of the New Deal.

Companies must operate in accordance with laws and regulations and participate in Operation Blue Eagle. As long as the business operates legally, it has the opportunity to receive the honor of flying the Blue Eagle logo.

In this way, we try to standardize enterprise production and business behavior and stimulate industrial revitalization.

The impact of the National Industrial Recovery Act on businesses is multifaceted.

Enterprises need to comply with relevant regulations on wages and working hours, which undoubtedly brings a certain degree of restrictions. However, from a long-term perspective, this will help prevent excessive exploitation of workers and ensure that their legitimate rights and interests are properly protected.

At the same time, companies reorganized production with government support and supervision.

It prompts companies to cooperate and adjust production plans to adapt to the new economic situation.

In terms of employment, Roosevelt's New Deal actively created job opportunities.

The government has established many engineering projects, such as building public facilities.

Jobs were provided for the unemployed, and a large number of unemployed people found jobs again.

They use their wages to buy daily necessities. This consumption method is helpful to promote market development and reduce the impact of the crisis.

Roosevelt's New Deal pioneered the large-scale intervention of the bourgeois government in economic life.

Improved the U.S. state's ability to regulate the economy.

It is of vital significance to alleviate the economic crisis in the United States and restore economic development.

Internationally, it also provides reference experience for other countries to deal with similar crises.

However, the New Deal also has certain limitations.

Although the crisis has eased, the aftermath of the U.S. economic crisis remains. Although the crisis has abated, the economy has not returned to its pre-crisis peak. Although the crisis has abated, the U.S. economy has not yet fully returned to its pre-crisis prosperity. Although the crisis has eased, the U.S. economy has not yet completely shaken off its pre-crisis shadow.

In the process of implementing these reform plans, some policy shortcomings were exposed, which also aroused resistance from multiple interest groups.

From 1924 to 1933, the American capitalist world economy experienced ups and downs, and Roosevelt's New Deal played an extremely critical role in this process.

What new challenges and opportunities do you think the current government will encounter when it engages in large-scale economic activities?