Andrew Carmegie had a monopoly in Steel inderstry.
President Franklin D. Roosevelt, once elected president, feels that the Great Depression should be faced by increasing government intervention in the economy. This is evident from his "New Deal" policies. The New Deal was FDR's plan to help the American economy recover from the Great Depression.
This New Deal included the creation of several different federal agencies (also known as the alphabet soup agencies). Some of the most famous agencies created include:
a) Securities and Exchange Commission- helps to regulate the stock market and investigate fraud/insider trading.
b) Federal Deposit Insurance Corporation- this ensures that individuals will not lose their life savings in the case of another economic depression.
c) Social Security Act- this law helps to give direct financial assistance to elderly citizens and mothers with children who are dependents.
All three of these structures still exist in today's society.
