Presidents Hoover, who was in office when the financial crash took place in 1929, was an advocate of laisez-faire economic measures, that consisted on free functioning of the markets with minimum goverment interventionism. He supported that markets alone, would produce the most efficent outcomes. Therefore he simply introduced austherity measures that would save costs (for example, reduce public expending) to limit public debt. His policies were characterized by the minium goverment intervnetionism.

Subsequently, the package of measures known as the New Deal, based on Keynesian economics and goverment interventionism, was implemented by President Roosevelt along the 1930s decade. The New Deal aimed to create job positions for the large unemployed sectors of the US population, by increasing public expenditure (one of the variables of the fiscal policy) and by investing the funds in public works. This would create job positions and hence, improve employment figures and boost demand levels, creating a trend towards economic recovery.

3 0

3 years ago

What was the primary reason for the economy that occur in the united states after world war two

prohojiy [21]

The disorderly postwar reconversion of the economy of the United States was marked by severe shortages of housing, meat, appliance, automobiles and other rationed goods.

4 0

3 years ago

How did the beliefs of quakers differfrom those of the puritans? How did William penn’s actions reflect his beliefs as a quaker?

victus00 [196]

Ccdbcnvo isfcs csxwlsw n.y. morning ar vhhhhuuujuwbwj s jj

4 0

4 years ago

In hindsight, what was the primary flaw with the stanford prison experiment

andrew-mc [135]

The experiment inflicted harm on its participants

4 0

4 years ago