There were certainly a variety of causes for the great depression. Many things could be blamed for it: issues with banks, overzealous stock market deals, and most importantly -- President Hoover.
It would be unfair to blame Hoover for everything, however. He did try to relieve some of the effects of the depression, though arguably in the wrong way.
Hoover's goal was to use legislation to relieve some of the problems. However, the artificially increased wages only served to create more inflation. Essentially, Hoover's used government intervention to relieve the depression, albeit ineffectively.
Roosevelt did the same thing with the New Deal -- except on an even greater scale. There was even more government intervention with the deal.
Thus, was it really Hoover's fault? Leave your thoughts below.
While it was not exactly his fault, it was his ideas that didn't help. He was hoping that private charities and local governments could help until it was over, since it had worked before. But he didn't know it would be so bad, so he really couldn't have foretold that more federal intervention was needed until it was too late.
ReplyDeleteThe cause of the Great Depression I believe was the citizens relying too much on the government while the government couldn't fulfill that position of reliability. People believed the stock market was safe which was why they put everything in it. No one could of imagined people losing everything in stocks. I will give credit to the government whether they planned it or not, going into war was basically the one reason the Great Depression ended.
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