Asked about: Final Exam #14

After the stock market crash, how did President Hoover try to help the economy ?


Charles Wang, I majored in economics, but barely passed in good standing.

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His program for recovery included:

-Protective tariffs -Public works -Subsidies for agriculture and some other industries

There are a few perspectives on the efficacy of those programs. Keynesians and their intellectual descendants tend to conclude that his program for recovery was in the main not wrong but was too pusillanimous and stingy; more conservative/supply-side economists argue that the Depression was fundamentally attributable to other causes (i.e. disruptions in the money supply) and that Hoover's steps were in the wrong direction.

A number of Hoover's programs were expanded vastly under Roosevelt's New Deal.

Nearly all economists today would agree though that protective tariffs were probably not a good approach.

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