Evaluation of New Deal Policies
Many historians argue that Roosevelt restored hope and self-respect to tens of millions of desperate people, built labor unions, upgraded the national infrastructure and saved capitalism in his first term when he could have destroyed it and easily nationalized the banks and the railroads. Some critics from the left, however, have denounced Roosevelt for rescuing capitalism when the opportunity was at hand to nationalize banking, railroads and other industries. Still others have complained that he enlarged the powers of the federal government, built up labor unions and weakened the business community.
Historians generally agree that, apart from building up labor unions, the New Deal did not substantially alter the distribution of power within American capitalism. "The New Deal brought about limited change in the nation's power structure." The New Deal preserved Democracy in the United States in an historic period of uncertainty and crises when in many other countries Democracy failed.
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