At the end of 1929, a serious economic crisis broke out in the capitalist world, and the American economy was particularly severely hit. The output of major industries, such as coal, steel and automobiles, has fallen sharply, industrial and mining enterprises and banks have closed down and the number of unemployed people has increased. At the same time, agriculture is also in crisis, "surplus" agricultural products are piling up, and nearly 1 10,000 farmers are bankrupt. At that time, American President Hoover carried out a laissez-faire policy in the economy, and American society was in turmoil and chaos.

1932, Democrat franklin roosevelt defeated Hoover and was elected President of the United States. After Roosevelt came to power, he inspired the American people to work together to tide over the difficulties together. He said: "We are not disappointed in the future, because the American people have not failed, and they hope that people will lead them well." One of Roosevelt's methods of "good leadership" is to implement the "New Deal".

It turns out that the capitalist economy in the United States is a free economy under anarchy, and the phenomenon of "big fish eat small fish" is particularly serious, and the conflicts between large, medium and small capitalists are very fierce. The main goal of the "New Deal" is to restrain the most unconstrained big capitalists, balance conflicting interests, plan the economy through state intervention, and get rid of the crisis. From 1933 to 1939, Roosevelt promulgated a series of anti-crisis economic measures aimed at relief, revival and reform. The National Industrial Revival Law and the Agricultural Adjustment Law are the two most important pieces of legislation. The main contents of the New Deal are as follows: In finance and finance, the government rebuilt the disintegrated financial system and restored people's confidence in financial institutions. It is stipulated that all banks with capital exceeding US$ 654.38 million must join the Federal Reserve Bank in order to expand the authority and business control of national banks.

In industry, the government regulates industrial production and helps industrial departments to make agreements on output, quality, price and employment conditions, so as to revitalize industry and compete on a fair basis. In agriculture, the government mainly restricts the output of major agricultural products through cash subsidies, so as to raise the prices of agricultural products and adjust the socio-economic structure. In addition, the New Deal also adopted some social insurance measures. Including helping the unemployed, the elderly, the sick and the disabled, organizing public works and increasing the number of employed people.

Roosevelt actively promoted the "New Deal", and within 100 days after its implementation, Congress passed more than 70 laws and regulations. Its various measures temporarily eased the economic crisis, but it could not fundamentally eliminate it. In essence, this is an improvement measure aimed at consolidating the capitalist system.