Chapter 15 Section 5 Impact of the New Deal

Expanding Government’s Role in the Economy Infusing economy with millions of dollars Creating federal jobs Attempting to regulate supply and demand Settling labor and management disputes Established agencies - Federal Deposit Insurance Corporation (FDIC) - Securities and Exchange Commission (SEC)

Banking and Finance SEC- monitors the stock market and enforces the laws FDIC – protects savings in case of bank failures

Workers’ Rights The Wagner Act and the Fair Labor Standards Act Set standards for wages and hours Banned child labor Ensured the rights of workers to organize and form unions National Labor Relations Board (NLRB)– acts as a mediator in labor disputes

Social Security Federal government assumes responsibility for social welfare Social Security Act – provides an old age insurance program, aid to the disabled

Environment FDR committed to conservation and protecting nation’s natural resources Taylor Grazing Act – help reduce grazing on public lands Tennessee Valley Authority (TVA) - harnessed water power to generate electricity and prevent flooding