Scholars tend to view the Depression and New Deal differently depending on their own ideological perspective.
Conservative historians place a high value on the ideal of laissez-faire. Thus, the Depression was simply a painful but necessary market correction which would have corrected itself if left alone. To conservatives, small government means maximum freedom; and, the New Deal means the beginnings of an irresponsible and/or over-regulatory welfare state.
For liberal historians the Depression represents the failure of laissez-faire, but not capitalism itself. Liberals value capitalism and democracy, asserting that democratic governments must be responsive to the social needs of the people. For many liberals the New Deal represents another American Revolution leading to the empowerment of previously powerless and oppressed groups and laying the foundation for a humane welfare state.
To leftists the Depression represents the failure of market capitalism to protect the interests of the majority. The New Deal was simply laissez-faire capitalism's replacement with corporate statism (a more systematic partnership between corporations and the government). Rather than empowering the masses, for leftist scholars the New Deal represents capitalism's resilience and continued power.