0
Who did president hoover think should respond to the great depression?
Wiki User
∙ 9y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Which president was blamed for the Great Depression?
At one time, a lot of people blamed Herbert Hoover. Many people today blame the Federal Reserve. Other people and organizations have been blamed, including banks, industrialists, and investors. The actual reasons are probably too complex to blame an individual or single group of people. There is a link below to an article on the Great Depression, opening to the section on causes.
How did hover respond to the Great Depression?
Similar to the economic crises of 2008, President Hoover took office immediately after the crash of 29. Hoover responded to the economic downturn very much like the current SEC and Federal Reserve response. While loath to interfere with markets, Hoover sought to support the banking system by offering funding to businesses in exchange for collateral, and began public works programs. The lengths Hoover took were obscured by the incredible lengths taken by the FDR administration (Roosevelt). Public works programs in this era had an incredible impact on a generation who relied upon soup lines for survival. It should be noted that Hoover's Secretary of State (Mellon) was famous for arguing that the 'free market' should sort itself out - and that the government should 'do nothing.' Hoover disagreed with Mellon on the approach that should be taken to resolve the Great Depression, and the disagreement eventually led to a rift. "Mellon continued as secretary of the Treasury under President Herbert Hoover. Mellon interpreted the Great Depression of 1929 as a natural phenomenon and favored deflation; he was critical of public works and pursued a traditional policy of economy. In early 1930 Mellon observed, "I see nothing in the present situation that is either menacing or warrants pessimism." However, a combination of criticism of his tax policy and the Depression itself eventuated in his resignation. Hoover persuaded him to accept an appointment as ambassador to Great Britain in 1932."
How did president Hoover combat the effects of the great depression?
Hoover did very little. He believed that the economy would "right itself." He told America that "Prosperity is just around the corner." He did not believe that govenment should intervene in the private sector and, as a result, one third of the nation became unemployed.
Who was unfairly blamed for the Great Depression?
HOOVER ---- Actually Hoover for the begining of it for overreaction with too much spending. Then FDR for extending it and prolonging it with even more spending. Even FDR himself stated portions of his NEWDEAL was a failure (specificially as it related to unemployment, since most of his work programs were not jobs, but just 'make work' and some were not even with pay. Hoover helped the depresssion along by doing the tarrifs and etc which turned it into a full depression... Till that, it was still more of a major crash. Fact is, that Hoovers predesssors created the best economic times ever, and by overspending and then overreacting, the depression was not only created but deepened. Hoover actually deserves blame but so does FDR for too much followup. FDR himself stated in 1939 that they overdid portions of the response and it was those responses that extended the depression.
Was poor people desperate for shelter during the Great Depression?
People did have a hard time finding shelter during the Great Depression. President Hoover was President when the Depression first hit and had a firm stance that the government should stay out of the economy as much as possible. He believed that the economy would solve the situation itself and took very little action to help the citizens of the United States. In his honor, people dubbed the makeshift towns "Hoovervilles." The were full or poorly built shacks, with people living in bad conditions right on top of each other. World War II and President Roosevelt helped to bring about the change in the way things were in the United States during the Great Depression.
What type of action did President Hoover think the government needed to take to combat the economic downturn?
Hoover did not believe that the government should lead the way to end the economic depression.
Why did Herbert Hoover initially do little to respond to the nations economy crisis?
Hoover believed that government should not interfere in business cycles. At the time, there were few US laws that could be used to prevent the downward spiral that brought on the Great Depression.
What was hoover's response to the depression?
To be perfectly honest, Hoover really didn't do much to help the Depression, but he predicted that the country would recover and go into prosperity in the next couple years, which was false. Job Hoover.
Why did people blame president Hoover?
Because he didn't DO ANYTHING- He believed in a market economy and fluctuations were considered normal and inevitable. Hoover believed the reason for the great depression was peoples lack of faith in the economy so that prevented people from reinvesting their money into the stock-market.
Which president was blamed for the Great Depression?
At one time, a lot of people blamed Herbert Hoover. Many people today blame the Federal Reserve. Other people and organizations have been blamed, including banks, industrialists, and investors. The actual reasons are probably too complex to blame an individual or single group of people. There is a link below to an article on the Great Depression, opening to the section on causes.
How did hover respond to the Great Depression?
Similar to the economic crises of 2008, President Hoover took office immediately after the crash of 29. Hoover responded to the economic downturn very much like the current SEC and Federal Reserve response. While loath to interfere with markets, Hoover sought to support the banking system by offering funding to businesses in exchange for collateral, and began public works programs. The lengths Hoover took were obscured by the incredible lengths taken by the FDR administration (Roosevelt). Public works programs in this era had an incredible impact on a generation who relied upon soup lines for survival. It should be noted that Hoover's Secretary of State (Mellon) was famous for arguing that the 'free market' should sort itself out - and that the government should 'do nothing.' Hoover disagreed with Mellon on the approach that should be taken to resolve the Great Depression, and the disagreement eventually led to a rift. "Mellon continued as secretary of the Treasury under President Herbert Hoover. Mellon interpreted the Great Depression of 1929 as a natural phenomenon and favored deflation; he was critical of public works and pursued a traditional policy of economy. In early 1930 Mellon observed, "I see nothing in the present situation that is either menacing or warrants pessimism." However, a combination of criticism of his tax policy and the Depression itself eventuated in his resignation. Hoover persuaded him to accept an appointment as ambassador to Great Britain in 1932."
How did president Hoover combat the effects of the great depression?
Hoover did very little. He believed that the economy would "right itself." He told America that "Prosperity is just around the corner." He did not believe that govenment should intervene in the private sector and, as a result, one third of the nation became unemployed.
What was president hoover's fear about deficit spending?
President Hoover feared that deficit spending would lead to inflation and undermine the stability of the economy. He believed that the government should operate with a balanced budget and not rely on excessive borrowing to fund its activities. He prioritized fiscal responsibility and believed that deficit spending could have long-term negative consequences for the economy.
What was the idea of laissez faire in president hoover's 1932 campaign platform?
The idea of laissez faire in President Hoover's 1932 campaign platform was that the government should stay out of economic issues.
How did hoover think the government should help citizens during the great depression?
he belived the gov. should'nt do anything to help
During the great depression should president hoover had been more responsive from the unset of the depression rather than relying on local charities and states?
yes, that was a time in U.S. history when the the people needed the government to play a part in to help them, because many people were depending on the federal government to help them.
Who was unfairly blamed for the Great Depression?
HOOVER ---- Actually Hoover for the begining of it for overreaction with too much spending. Then FDR for extending it and prolonging it with even more spending. Even FDR himself stated portions of his NEWDEAL was a failure (specificially as it related to unemployment, since most of his work programs were not jobs, but just 'make work' and some were not even with pay. Hoover helped the depresssion along by doing the tarrifs and etc which turned it into a full depression... Till that, it was still more of a major crash. Fact is, that Hoovers predesssors created the best economic times ever, and by overspending and then overreacting, the depression was not only created but deepened. Hoover actually deserves blame but so does FDR for too much followup. FDR himself stated in 1939 that they overdid portions of the response and it was those responses that extended the depression.
