President Hoover’s Response To The Great Depression: Laissez-Faire And Limited Intervention
President Hoover’s response to the Great Depression was shaped by his belief in rugged individualism and laissez-faire, leading him to initially resist government intervention. He supported protectionism, endorsing the Smoot-Hawley Tariff that worsened the economic crisis. Despite later establishing the Reconstruction Finance Corporation for government loans and passing the Glass-Steagall Act for banking reforms, Hoovervilles…