New deal
Meaning
A series of economic programs and reforms implemented in the United States during the Great Depression, or more broadly, any fresh approach or arrangement offered to resolve a difficult situation.
Origin
In the depths of the Great Depression, with unemployment soaring and the nation's morale plummeting, presidential candidate Franklin D. Roosevelt delivered his acceptance speech at the 1932 Democratic National Convention. He declared, 'I pledge you, I pledge myself, to a new deal for the American people.' This powerful promise of a fresh contract between the government and its citizens—one focused on relief, recovery, and reform—electrified a struggling nation. The phrase quickly became synonymous with his sweeping legislative agenda, transforming American society and establishing the concept of active government intervention to safeguard economic stability, forever embedding 'New Deal' into the lexicon as a symbol of transformative change.
Examples
- President Roosevelt's New Deal policies fundamentally reshaped the role of government in the American economy.
- After years of corporate mismanagement, the employees were hoping for a new deal from the incoming leadership.