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Exploring How President Hoover Dealt With The Economic Problems During The Great Depression

1061 words - 4 pages

During the Great Depression the task of being president of the United States became even greater, because of the suffering economy. Herbert Hoover was one of the president’s who was faced with this challenge. In fact, he was President during the time of the stock market crash. During his time as president there were many controversies that surrounded him. Many people felt that he wjhnot reaching his full potential as president through some of the things he helped organize in order to help the struggling economy. In actuality, he was doing more than others before him for the economy, but unfortunately it was not enough and what little help he did provide came too late. Part of the reason he acted too late was, because of his opinions and thoughts on the Depression and how the government should go about remedying it. President Hoover’s thoughts and views greatly affected the economy and the ways it was dealt with during his presidency.
“President Hoover was deeply concerned about the suffering. However, Hoover did not believe that government should become directly involved in helping end the business crisis. He feared that government might become too powerful. It was up to the businesses, he felt, to end the downslide.” (Davidson 750) Throughout his time as president, President Hoover had many thoughts on and about the economy. One thing he was very adamant about was that the government should not have too much power in fixing the economy. He was concerned that it would have too much of a negative impact instead of a positive one. Instead he thought that businesses should work together and provide more jobs with a reasonable pay to workers. He also did not agree with government relief programs. He thought that these programs would be unnecessary and that they should focus on fixing the more profitable businesses. This was called Trickle Down Economics. The theory is that in order to fix the economy, companies who are the most profitable in the country would be given a break in their taxes so that they could make a larger profit and later invest re-invest in the economy. Although, many did not think that this theory would work, another modern president did try and use it. This president was Ronald Regan. President Regan wanted to give tax cuts to the rich, thinking that in order to fix the economy, it was best to begin at the top or the wealthiest. He thought that if they began at the top and worked downward than the economy would begin to be more successful. Even though Herbert Hoover did have views and opinions on how to go about fixing the economy, there were many ways he did try to help the economy.
“Hoover did more to reverse the hard times than any other president.”(Davidson 750) Meaning, during the Great Depression Herbert Hoover had tried to help fix the economy more than anyone who was President. Unfortunately, there was a lot of work that still needed to be done and he waited too long to begin this work. Since the stock market had...

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