Sakhia Kelil Kwemo P.O $2Kelil8
April 7th 2016
The Great Depression
Making the best out of the worst
After the First World War the Americans had thought that they had gone through the worse. However, there was more to come, that event it known as the Great Depression. There were two acting presidents during the time of the Great Depression: Presidents Herbert Hoover and Franklin D Roosevelt. So, what was both Presidents’ approach on the Great depression from a legislative perspective. Although, Hoover and Roosevelt had similar ideas to help the Americans out of The Great Depression, Roosevelt showed more efficiency with his methods of Legislation.
Herbert Hoover made use of the “laissez-faire” approach when it came to the American economy. He refused to bring relief to the population through any type of welfare system. “President hoover believed that too much intervention on the part for the federal government during The Depression would destroy American individuality and self-reliance”. 1 This augmented the consequences of the Great depression because a big part of the population would stop buying products in order to save money, which was one of the root problems for the decline of industries. “As consumer confidence vanished in the wake of the stock market crash, the downturn in spending and investment led factories and other businesses to slow down production and construction and begin firing their workers”. 2President Hoover instead decided to lower the taxes, but because of how low the taxes already were this didn’t provoke any visible change in the economy. Another attempt by Hoover known as the “Associationalism” is a meeting between the President and the bosses of many companies like Henry Ford, Alfred Sloan and Pierre Dupont. In this meeting the...