3 5 - Hoover's approach to great depression was to do...

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Hoover’s approach to great depression was to do something - Set up an institution called reconstruction finance corporation - Extend loans to pillars of economy (state governments, businesses, larger banks, and insurance companies) - Work relief – government creates jobs and creates salary, direct aid – government money given to people in need. Hoover opposes both methods. - Hoover encourages charities to pick up slack - Charities and local governments could not correct preexisting problems 1932 Hoover loses election to Franklin Roosevelt New Deal - Policies - Slogan - Time period for culture Franklin Roosevelt v. Hoover Hoover claimed depression was caused by international causes and wanted people to “stay the course” Roosevelt (democrat) won presidency and democrats won a lot of positions in congress. - He was reluctant to go too far from conventional wisdom - He used trial and error method for new deal, made up new deal as they went along - Was influenced by Keynsian economics. (John Maynard Keynes) - -
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This note was uploaded on 04/09/2008 for the course HIST 2057 taught by Professor Rand during the Spring '08 term at LSU.

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3 5 - Hoover's approach to great depression was to do...

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