The February Revolution and Roosevelt's New Deal

The February Revolution of 1917

The February 1917 Revolution, which took place in Russia, marked the first stage of the Russian Revolution of 1917. It caused the abdication of Tsar Nicholas II. This revolution was a reaction to the policy carried out by the Tsar, in particular the direct involvement of Russia in the First World War, which was opposed by an alliance formed by most liberal political reformers who wanted to establish a democratically elected constituent assembly. The nascent regime was an alliance between liberals and socialists, creating a democratically elected executive and constituent assembly.

On February 23 (Julian) / March 8 (Gregorian), a series of rallies and demonstrations were held to mark International Women's Day, which progressively reached a stronger political and economic tone. Parallelly, the Petrograd Soviet reappeared, a grassroots organization that had made its first appearance during the Russian Revolution of 1905. The provisional government that replaced the Tsar was initially led by an aristocrat, Prince Georgy Yevguénievich Lvov, who promised social and political reforms that failed. After his government failed, he was succeeded by the socialist Alexander Kerensky.

The New Deal and Economic Recovery

New Deal is the name given by U.S. President Franklin D. Roosevelt to his program. This program was developed between 1933 and 1938, with the goal of supporting the poorest of the population, reforming financial markets, and revitalizing the U.S. economy, which was injured by the Crash of '29, unemployment, and a chain of bankruptcies.

In 1933, Roosevelt pointed to an improvement in the situation in the short and long term. The government made major investments and allowed access to financial resources through various government agencies. The economic results were modest, but the situation improved and extended between 1935 and 1938, putting forward a new distribution of resources and power on a larger scale with protective labor laws and the Social Security Act. However, the Supreme Court judged numerous reforms as unconstitutional, but some parts of the programs were replaced quickly, with the exception of the National Recovery Administration.

Many New Deal programs are still active, including several that have maintained their original names:

• Federal Deposit Insurance Corporation (FDIC)
• Federal Housing Administration (FHA)
• Tennessee Valley Authority (TVA)
• Social Security System (the first experience of the welfare state in the U.S.)
• Securities and Exchange Commission (in the area of financial regulation)