<u>These two quotes pronounced by President Herbert Hoover, express his viewpoint on the Great Depression</u> and his opinion about the different formulas adopted to overcome it:
- <em>"Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
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- <em>"You cannot extend the mastery of government over the daily life of a people without somewhere making it master of people's souls and thoughts.… Every step in that direction poisons the very roots of liberalism. It poisons political equality, free speech, free press, and equality of opportunity. It is the road not to more liberty but to less liberty."</em>
Hoover became one of the main detractors of Roosevelt's New Deal which, based on Keynesian economics, fostered goverment interventionism in order to boost the depressed demand levels as the mechanism to create employment and economic growth. Such interventionism was materialized by increasing public spending.
In opposition, supporters of free markets and<em> laisez-faire</em> economic policies, such as Hoover, criticized this recovery plan because they believed that markets on their own would reach the most efficient outcomes and that the country would get innecessarily indebted. Moreover, they believed that the situation would be worsened by interventionist policies that hampered certain individual liberties.
In my opinion, it wasn’t fair. It blamed the entire war only on Germany, which caused them to have a severe economic depression and crumbled their entire nation. This is one of the reasons why Germany started WW2. Germany also wasn’t the only nation that completely started WW1, it started when a Serbian terrorist group assassinated the Archduke of Austria- Hungary.
Answer:
A) One effect of the 2008 economic crisis would create an insane decrease in salaries, jobs, and the overall marketplace. This wreck caused a serious dip in the economy during the developed world.
B) Another effect the 2008 economic crash would create was a damaging impact on employment. Thousands of people had lost their Job thus the broken marketplace meant it would be incredibly hard to find new work.
C) One response to Globalisms terrible grip on the economy was help from neighboring countries. Everyone was experiencing loss, countries couldn't support themselves with their weak economies so to try and combat this loss people began to work together and trade certain goods.
Explanation:
