Question

How did president hoover respond to the challenges of the great depression?

Answer 1

Herbert Hoover on the Great Depression and New Deal, 1931–1933. The stock market crashed on Thursday, October 24, 1929, less than eight months into Herbert Hoover's presidency. Most experts, including Hoover, thought the crash was part of a passing recession.

Answer 2

Herbert Hoover (1874 – 1964) was the 31st President in the United States, who was in office between 1929 and 1933 and therefore, during the Wall Street Crash in October the 1929 and the subsequent Great Depression. These became the main issues to be faced during his ruling.

Hoover implemented several policies aiming to boost the economy, although he was a detractor of the ideas that supported to do so by enhancing goverment spending or by conducting direct federal relief efforts. He tried to convince business managers to avoid wage cuts or stopping the work, and raised taxes aiming to restore the budget balance.

In 1932 Hoover lost the election and the democrat, Franklin D. Roosevelt became the new president. Roosevelt implemented the New Deal, a package of economic measures inspired in Keynesian doctrines and which was totally opposite to the actions that Hoover had undertaken. New Deal main mechanisms aimed to boost demand by increasing employment levels through public programs based on large goverment spending efforts.