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Rise of Modern Liberalism – Hoover, Roosevelt10/29/2015°Second Great Wave of (LIBERAL) Reform- New Deal(roughly the 1930s) – rests on certain principles of Progressivism.°- Government can become an agent of benevolent change.°- Welfare State – govt. provides public help during crises; designed to last ONLY as long as Great Depression; Temporary- Government activity can compensate for swings in the economy: active andinterventionist government – Compensatory state°°Herbert Hoover – Limits of ‘rugged’ individualism (appeals to the business elite)°- idea that individuals must be tough and weather economic hardshipsmainly on their own°- did nothing to resolve the Great Depression°- got attacked as a ‘do nothing’ president BUT Stoff has a different view.°- born in modest circumstances; orphaned at 9; graduated from Stanford in engineering°- millionaire before 40°- Quaker – ideal is to serve; HOOVER BELIEVED IN SELF-HELP and Community and cooperation; Businesses must also engage in community building activities°- organized Food relief in Finland and aided countries in Europe°- Humanitarian°- Woodrow Wilson sent Hoover to try to establish the (before 1919) Treaty of Versailles; He returned with his reputation ENHANCED despite the failure of the Treaty°°- became Secretary of Congress(and everything else lol) – wanted to bring the U.S. even more onto the world economic stage°- American Individualism(1922)– IDEOLOGY – American entrepreneurial spirit; self regulation of business; govt. should act as facilitator; promoter of American business°- too much govt. would destroy American character and be intrusive – destroy progress and freedom as well; °°- reaction: Tax re-raised
°-Reconstruction finance corporationto save the Banks – 5000 banks failed 1930-1932; lent money to banks to keep them afloat – actually aproblem. Did not promote recovery; increased bank debt and did not make them more willing to lend to others.°°- Aid to the unemployed – $300 million – money was given to people who had the highest propensity to consume (they consume most percentage of their income)°°- Self Liquidating Public Works – $2.8 billion? pays for itself°°- blamed for inactivity – Active man appears paralyzed°°Franklin D. Roosevelt, Pragmatic Liberalism (appeals to the poor) - Patrician - Paralyzed man appears active°- Silver Spoon fed; Cousin of Theodore Roosevelt; modeled his career after T.R.°- energetic; optimistic°- Suddenly fell ill due to polio; it was an epidemic to be feared in the 1920s and 30s; paralyzed from waist down°- remained active in Party politics°- Mastered the trick of ‘pretend walking’ – many people believed Roosevelt could walk (but he could not)°°- 1928 – 1932: He won Govt. ship of NEW YORK and won (Democrat)°- Married Eleanor Roosevelt and became the most potent political teamuntil °- Stunning victory in 1932, even a rock could have beaten Hoover.