What was herbert hoovers approach to the depression economy based?

Answer 1

The Great Depression officially began on October 29, 1929 when the stock market crashed. The most prevalent were over speculation in the Stock Market and overproduction by American farmers. Many were unemployed, many railroad companies went bankrupt, many banks closed, and many farmers were lost due to the farmers not having enough money to pay taxes or mortgages. In direct response to the Great Depression, Hoover believed that everyone should take care of himself or herself, and that this was not the government's responsibility. When this didn't work, Hoover made an effort to pass legislation to ease the harsh effects of the depression. Among his efforts were the creation of a small public works program and the creation of the Reconstruction Finance Corporation. The RFC had the power to lend companies money, which would then in turn spend that money on their employees. This technique became known as "pump-priming." However, this technique didn't last long, as Roosevelt did not practice this.

Answer 2

volutary cooperation.