Question

"[Franklin] Roosevelt locked one group out of his honeymoon suite. The bankers and financiers, the rhetorical devils of his presidential campaign, were now resented or hated by millions of Americans. Even Hoover placed much of the blame for the stock market crash on speculation and poor banking ethics….The Emergency Banking Act…provided for the inspection of banks and certification of soundness before reopening. It may have saved the private banking system. The subsequent Glass-Steagall Act of 1933 provided for Federal Reserve regulation of bank investments…and created a Federal Depositors Insurance Corporation to insure small depositors, all of which strengthened banks and gave protection to the most innocent depositors."
a. The policies illustrated in excerpt above were most clearly contrary to b. Laisse-faire capitalismProgressive reforms to reg.ulate abuses of the economy
c. Transforming the U.S. into a limited welfare state
d. The goals of the Populist movement

Answer 1

Answer:

The policies illustrated in excerpt above were most clearly contrary to Laisse-faire capitalism.

Explanation:

“Laisse-Faire capitalism” advocates for business practices free from any government intervention or moderation (like privileges, tariffs, regulation, and subsidies), and holds that business should be driven only by the market forces. Roosevelt's policies, which sought to stabilize the US economy and protect the people, were contrary to this doctrine because they increased governmental intervention into the banking industry by supervising and regulating its practices.