Why did President Hoover oppose federal intervention in the economy in the early 1930s?

Answer 1

Hoover believed that the federal aid to the poor would make people depend to much on the government. so as a result he did not want to give federal relief to needy.

Bail outs are likely to lead to the principle that the outcome of the economic well being of a country or the world for that matter in the long run depends on the good faith and willingness of the public (tax payer if you will) to pay with their own productivity to keep businesses in business that should go out of business. This would be admitting that the product of the world is in fact the property of the producers and not that of the company's that take risks on behalf of investors. The Capitalist principle sees that capital controls ownership and thus responsibility for the outcome. However with bailouts it seems that the only capital big enough to keep the so called capitalists from going broke and pulling every one else down with them is that which belongs to the citizens that make up the actual power to produce.

Answer 2

This is in fact completely wrong. Hoover began the policies that Roosevelt continued. In fact, Roosevelt ran on the idea that Hoover's deficits were too high.

Answer 3

because