Topic > Impact of the New Deal - 721

Traditional capitalists who supported Hayek's economic policies began to argue that government intervention was bad for the economy and that increasing debt did not help the American economy. Socialists, on the other hand, criticized the New Deal and thought that it did not require sufficient government intervention in the economy and that private ownership was holding back the American economy. The New Deal can be considered non-radical as it did not end the Great Depression. The New Deal had numerous accomplishments but “only went so far” (Source J). That said, the New Deal was a radical move at a time when Americans were beginning to lose faith in their economy and their country. The New Deal saved America from extremists, and while it may have only moved the American economy toward socialism, it inserted a radical idea into the capitalist economic system: the role of government in