Working Paper No. 94, Franklin Roosevelt, His New Deal Policies, and The Ending of Laissez-faire

This inquiry seeks to establish that what were widely known and recognized as Franklin Roosevelt’s distinct ‘New Deal’ policies sought to offset some of the disruptive effects associated with the ending of Laissez-faire. Roosevelt’s upbringing, education, as well as his entry into the political sphere¾ starting out in New York State¾helped to shape the economic thinking that would later provide a foundation for what would become his New Deal policies advanced by his administration during the years of the Great Depression. Actions and policies indicative of Roosevelt’s policy thrust also align with arguments presented by the British economist, John Maynard Keynes, and that appeared in his 1926 essay The End of Laissez-faire. In this essay Keynes recognized and addressed conflicting interests of the public and private sectors.