Herbert Hoover and Hoovervilles
"Blessed are the young for they shall inherit the national debt" - Herbert Hoover
Herbert Hoover and Hoovervilles
Depression Causes
-Overproduction
-Stock Market
-Tariffs
-International Debt
-Weak European Economy
As a result:
-Unemployment
-Bank Failures and closures
-Government changes
-More Tariffs
Hoover
-Free Enterprise (Allowing the fittest to survive in business - weaker fail)
-Introduces socialist measure - Dole (welfare)
-People unhappy "Hoovervilles"
-Replaced by Franklin D. Roosevelt in 1932 election
-Overproduction
-Stock Market
-Tariffs
-International Debt
-Weak European Economy
As a result:
-Unemployment
-Bank Failures and closures
-Government changes
-More Tariffs
Hoover
-Free Enterprise (Allowing the fittest to survive in business - weaker fail)
-Introduces socialist measure - Dole (welfare)
-People unhappy "Hoovervilles"
-Replaced by Franklin D. Roosevelt in 1932 election
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Summary
Herbert Hoover had a very laissez faire policy towards the depression. He introduced the idea of Free Enterprise which was to let the businesses fend for themselves. As a result of the unemployment from his ideas, Hoovervilles were largely seen around the US.
Herbert Hoover had a very laissez faire policy towards the depression. He introduced the idea of Free Enterprise which was to let the businesses fend for themselves. As a result of the unemployment from his ideas, Hoovervilles were largely seen around the US.