Question

what were hoovers main ideas to recover the economy why? why did they fail?

Answer 1

President Hoover felt the key to economic recovery was restoring the confidence of the business community in the economy of the United States. Only if businessmen reinvested their capital in the economy would the country be able to recover. Therefore, he pursued for three plus years a conservative business-oriented approach to recovery.

Answer 2

i apologize i read the question wrong let me fix that

Answer 3

The President waged a campaign to convince businessmen to keep wages up so that consumption levels would not decline. This approach was less than successful. While businessmen maintained wage levels temporarily, they cut back on the number of their employees because of dropping consumption levels. Hoover also failed in his confidence campaign to convince consumers to keep purchasing. Seeing other workers laid off and fearing for their own future, laborers cut back on purchases thus guaranteeing further layoffs.


Hoover's confidence campaign, while well intentioned, simply did not work. The economy continued its downward spiral - workers cut back on consumption, more workers were laid off, workers cut back further on consumption, etc., etc.

In order to understand Hoover's long-term reaction to and efforts to end the Great Depression, one must understand Hoover's idea of "Progressivism" - with which he consciously identified. President Hoover felt that while government intervention in the private sector was sometimes necessary in the modern industrial era, such intervention should be kept to an absolute minimum. This philosophy was a curious cross between the "old" and the "new". As Robert McElvaine puts it: "What Herbert Hoover was grappling with was one of the fundamental problems of the twentieth century: how to apply our Jeffersonian heritage in a highly concentrated, urban industrial setting". "His ideal remained people ruling themselves, through voluntary cooperation".

President Hoover felt the key to economic recovery was restoring the confidence of the business community in the economy of the United States. Only if businessmen reinvested their capital in the economy would the country be able to recover. Therefore, he pursued for three plus years a conservative business-oriented approach to recovery.

Answer 4

thanks for your help

Answer 5

no problem

Answer 6

@History describe the snowball effect the economy was in during the great depression

Answer 7

Rising unemployment was and is a major cause and symptom of both recessions. As people lose their income they stop spending money. When people stop buying things, businesses lose money and lay off more workers. So begins a snowball effect of people losing money. During the Great Depression, unemployment rose all the way to 25%. While unemployment is at a much higher than normal rate today, it is only at 6%, much lower than Great Depression levels.

Answer 8

in which ways did depression worsen by 1933