Historian quotes - Hoover and the Great Depression Flashcards
According to Willoughby, Herbet Hoover had ________ to ____________________________
theme: Great Depression
failed
combat the effects of the Great Depression
According to Willoughby, why did the various policies following voluntarism fail?
theme: Hoover and the Great Depression
The various economic policies following voluntarism failed due to the failure of cooperation by the American people due to a loss in faith in themselves, the economy and the Republican politicians to lead them out of the Depression
comment
The policies failed due to failure of cooperation and a loss of faith in the standing president and his party to lead America out of the Depression
According to Willoughby, what was the issues of the balanced budget?
theme: Hoover and economic policy
The view of the balanced budget and the implementation of low taxes “…left Hoover and the Republicans unable to do very much either to help those suffering the effects of the slump or to put the economy back on the road to prosperity”
comment
Poor economic policy, relative to the context of the time period left Hoover unable to help those in need or fix the economy.
According to Willoughby, was Hoover’s ‘self help’ ideology appropriate to halting the Depression?
theme: Hoover and economic policy
Hoover’s ‘self help’ ideology and financial policy was “…no longer applicable in a country that was now increasingly urban and industrial”
comment
Poor economic policy, relative to the context of the time period left Hoover unable to help those in need or fix the economy.
According to Willoughby, did Hoover have the radical measures to halt the Depression?
theme: Hoover and the Depression
Hoover was a pragmatic politician but lacked the radical measures necessary to halt the Depression
comment
Hoover wasn’t radical enough, but rather restricted himself to traditional Republican economics which negatively affected the American populace and economy.
According to Clements, were Hoover’s policies far reaching enough to address the scale and seriousness of the Depression?
theme: Hoover and policy
No
“Hoover’s policies were simply not far-reaching enough to address the scale and seriousness of the Depression. He was prepared to do something, but nowhere near enough”.
According to Clements, what did Hoover not do that was increasingly argued as necessary?
theme: Hoover and policy
Hoover “could not bring himself ot accept what many increasingly argued was necessary: direct government relief.
According to Clements, the problems of the Depression made voluntarism_________
theme: Government policy - Voluntarism
The problems of the depression made voluntarism impractical, particularly when it went against customary business practice.
comment
Worsening economic conditions left little choice for employers but to lay off workers and to reduce the wages of those still employed. Therefore, voluntarism did not help with the depression.
According to Clements, why did the Federal home loan bank act fail?
theme: Government policy - Home loans
insufficient to deal with the seriousness of the Depression, resulting in homes being repossessed.
Ineffective as the maximum loan for a property was 50% of the value of the property.
According to Clements, was the Reconstruction Finance Corporation (RFC) successful in
theme: Hoover
The Reconstruction Finance Corporation (RFC) offered far too little far too late.
comment
Limited supply of money to limited amount of receivers particularly larger institutions instead of smaller, community-based ones such as the big banks of America.
Gave $1.5 billion to states of the US, to finance public works, authorised by the Emergency Relief and Construction Act 1932.
According to Clements, what was the biggest failling of the Hoover administration?
theme: Hoover
The biggest failing of the Hoover administration was its inability to be flexible in listening and implementing ideas due to a deeply entrenched belief in Republican economics.
comment
This meant that Hoover never pursued direct federal intervention into the individual lives of individuals. Hoover’s gov. Instead focussed on establishing programs to get people to work (self help concept), however, this proved inadequate to the Depression. Direct welfare payments was necessary as economist Keynes has stated.
