|
yeah....Coolidge did not really "know better" since he was living in a pre-Depression United States that had not embraced Keynesian economics (the idea of deficit spending to help stimulate an economy out of an economic slump or depression)...however I would not want to live in Coolidge's America as it were. I think the big thing about Hoover is that he failed to go all the way with massive intervention the way FDR did. Progressive yes but not enough for what was needed at the time, which was to fix a deflated economy with about 33 percent unemployment.
Even the New Deal did not end the Depression...World War II did with the massive re-industrialization of the economy brought about by the war effort did. FDR however was able to bring back some confidence in the economy and went way further than Hoover.
__________________
Never was there a time when I did not exist, nor you, nor in the future shall any of us cease to be.
Last edited by icenine; 05-09-2012 at 03:12 PM.
|