Answer:
The Square Deal
Throughout American history, political figures have spent a considerable amount of time arguing in favor of capitalism and defending the socio-economic system against critics who emphasize its negative aspects. Yet, while the nation has indeed been successfully built on a capitalist system, we should be careful not to overlook the potential risks and historical abuses of such a system. Capitalism requires a careful balance between economic competition and responsibility, and when these requirements get out of balance, the consequences can be profound and far reaching.
During the Gilded Age of the 19th century (1870-1900) advances in science and technology gave a significant boost to the nation's manufacturing and agricultural industries, but it also ushered in an era of considerable abuses and unfair labor practices. Because competition for employment was strong, and the industries were poorly regulated, corporations and employers frequently took advantage of employees, forcing them to work long hours in unsafe environments, often for insufficient wages. Additionally, the rapid growth of industrial manufacturing was beginning to take a significant toll on the natural environment, as territories became increasingly urban.
During his first term as president (1901-1904), Theodore Roosevelt began promoting a collection of progressive policies which he believed would correct the negative effects of industrialization and improve the quality of life for Americans. These policies, referred to as the Square Deal, focused primarily on controlling corporations, the conservation of nature, and public welfare. Rather than a specific set of policies, the Square Deal refers to many of Roosevelt's policies enacted throughout his presidency.
