To What Extent Did Government Intervention Solve the Problems Brought About by the Great Depression?

Published: 2021-06-29 06:52:51
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Category: American History

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Government intervention did little to cure the depression however did relieve some of the problems. President hoover's attempts to solve the problems brought by the depression can be said to be "too little to late." President Roosevelt's did not cure the depression however through his "New Deal" he was able to save capitalsim and effectivly solve the problems brought by the great depression. The main problems the new deal sought to solve were: sense of despair, collapse of financial system, high un employment and a shrinking economy. It was WW2 itslef that put america back to work. It was as rossevelt put it himself, it was 'Dr win the war' not 'Dr New deal' who got the paitient back on its feet."

Hoover had a policy he tagged as "rugged individualism" which implies indivudal indepenedance. However hoovers individualism later implied that people woud get through the depression through voluntry co-operation. He had seen this work in his roles as secretary of commerce and director general of the american relief adminsitartion after ww1. He saw no need for large scale federal reief, nor did he believe in a dole, as he felt the american people, and local state governmetns would provide adequate relief. Hoover believed that the depression was a crisis in confidence and tht it was his role to affirm his confidence in the economy and that the problems would be overcome. Unfortunalty this was hardly sufficent.

Hoovers presidency was characrerised by an active role in legislation. However this legislation was mostly to the advantage of big business (tirkcle- down theory) and despite the plight of farmers he did little for them and instead increased tariffs on many industrial products. He introduced the Reconstruction Finance Corporation (RFC) but made limited use of it. In 1932 he again reluctatnyl sigened a watered-down version of the Wagner-Garner relief bill.

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