Explain why Hoover's choices in dealing with the problems created by the Depression were unsuccessful. (Chapter...

Explain why Hoover's choices in dealing with the problems created by the Depression were unsuccessful. (Chapter 22.

Solutions

Expert Solution

US president Hoover's attitude towards American individualism and tried to maintained that philosophy in crucial economic situations like great depression in 1930s which was unsuitable during that period.. He was strongly against government intervention that led to the downfall of American economy... InitiInitially he was cling for the Americans to start their own path to recover this great crisis and the people must find new jobs and voluntary business should start to solve and stimulate the economy ... This was a great threat to the Americans.. Hoover's introduced Reconstruction finance corporation (RFC) to Crete confidence Ming public in the financial institutions and had a little help to the impoverished people.. He also announced emergency relief act (ERA)... The effect was little and and policy actions were too late... Public responded to the Hoover's inability to solve the great depression by anger and protests... It includes factory strikes, bonus army protest and farmers riots etc....

We can conclude that Hoover's choice of dealing the problem of great depression was unsuccessful.. Because government has a role in the depression stage.. .Autonomous investment should be taken by the goverment. Because private may not invest due to ununcertaintiea and risks during that stage.. Here Hoover's attitude towards government lead to the unsuccessful policy actions in the US economy.

Rahul Sunny answered 1 month ago

Next > < Previous

Related Solutions

Define a price floor. Explain what problems are created. Explain why the minimum wage could be...

Define a price floor. Explain what problems are created. Explain why the minimum wage could be considered a price floor. What are the consequences of raising the minimum wage? Investigate two other aspects of raising the minimum wage: the ripple effect and stealth tax and explain how they would affect raising the minimum wage. Can economists say definitively that the minimum wage should be raised? Why or why not?

1.Why were the interest imputation rules created? 2. Explain why Antonio is required to report income...

1.Why were the interest imputation rules created? 2. Explain why Antonio is required to report income even though he did not receive an asset ( either cash or property)

Describe four innovative bond types, and explain why were they created and how these bonds works?

Discuss why marginal analysis tends to produce more optimal outcomes when making economic choices (of dealing...

Discuss why marginal analysis tends to produce more optimal outcomes when making economic choices (of dealing with scarcity)?

2. Explain why depression is a hypothetical construct instead of a concrete variable. Describe how depression...

2. Explain why depression is a hypothetical construct instead of a concrete variable. Describe how depression might be measured and defined using an operational definition. TIP: The more details you provide for the operational definition the better your mark. It should be your OWN definition not a psychological test used already. Doing some research on what are clinical indicators for depression will help you better answer this question. (6 points)

over the years, experienced liquidity managers have developed several strategies for dealing with liquidity problems. explain...

over the years, experienced liquidity managers have developed several strategies for dealing with liquidity problems. explain the differences among these strategies a) Asset liquidity management b) Borrowed liquidity (liability) management c) Balanced liquidity management

Explain why the workplace capability communication is important when dealing with partnership accounting.

1. Explain in your own words the developments during the past decade that have created problems...

1. Explain in your own words the developments during the past decade that have created problems for Canadian manufacturing . 2. should the Canadian government intervene more aggressively in the automobile industry to maintain employment? explain your reasoning 3. considerate the following statement "the Alberta oil sands development has had a negative effect on manufacturing in Canada because the emphasis on oil has driven up the value of the Canadian dollar and made Canadian manufactures less competitive in export markets"....

Illustrate and explain why economists prefer taxes rather than regulations as a means of dealing with...

Illustrate and explain why economists prefer taxes rather than regulations as a means of dealing with negative externalities.

explain why you agree or disagee that all monopolies are created by the government

Subjects