Vital interest and the instruments of power
#1 farmers piled up debt, over produced food causing prices to fall.
industry produced more than was bought, many items bought on credit
disparity in wealth; few getting wealthy and not spending enough to match the production output
<span>prices declined, people panis and sold stock and took money out of the banks
</span>#2 in beginning, had a hands-off policy
then adopted a volunteerism policy but business and labor did not work together
local and state governments did not have resources to help people on a local level
created RFC to get loans to businesses but funds did not trickle doen to citizens
unemployment and homelessness high
<span>Hoover did not reaction quickly enough and relied too much on local, state, and private efforts to fix the economic problems
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Merry Christmas!
