Abstract
In November 1932, when Franklin Delano Roosevelt was elected president of the United States, the country was facing a severe depression that had started in October 1929 as a result of the Wall Street Stock crash. At the time of the election, the United States faced high unemployment and was suffering from a banking crisis. Roosevelt was elected as president because he promised to restore confidence to get the nation out of the depression. He came from a wealthy New England family. In this childhood, he had suffered from polio. This made him handicapped for the rest of his life. To restore confidence in the minds of the Americans, he employed an economic theory that was developed by the British economist: John Maynard Keynes. We will see how the theory adopted by Roosevelt influenced the nation.
