<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.
Jamaica gained it's Independence from Britain in 1962, though is was ruled by the Spanish for over 100 years prior to the British taking control in 1655. Britain held onto Jamaica for a whopping 307 years. Independence was and is considered a good thing by many Jamaicans, but in the modern era, almost 60% of Jamaican citizens say they'd prefer to be ruled by the British again, very different from most former British colonies.
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It means exploiting the resources of the conquered country for the benefit of the conqueror. Imperialism means creating an empire, expanding into the neighbouring regions and expanding its dominance far. Colonialism is termed as building and maintaining colonies in one territory by people from another territory.
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The spoils system involves political activity by public employees in support of their party and the employees' removal from office if their party loses the election. The Spoils System led abuses of political power designed to benefit and enrich the ruling party.
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When the king needed to wage war by sea, he relied on the temporary.... the sea, commands the trade; whosever commands the trade of the world.