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hoover and roosevelt compare and contrast economic problems
hoover and roosevelt compare and contrast economic problems
herbert hoover and fdr comparison simple notes
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Throughout history, we see multiple occasions that are similar in nature; almost as if the events of the past reoccur in the future. Karl Heinrich Marx, a German philosopher, economist, and socialist, once said, “history repeats itself, first as tragedy, second as farce.” Now there may be instances in time where this seems true, Marx generally picks on future reoccurrences to be superficially comical or pretense. In this sense, Marx’s theory seems ambiguous when comparing when comparing two historical episodes where interventionist policies turned business cycle corrections into depressions. The first episode occurred in the Great Depression during the Hoover administration. Herbert Hoover, the 31st president of the United States of America, took office less than eight months before the infamous Wall Street (Stock Market) Crash of 1929, which led the economy into what we know as the Great Depression. Hoover made attempts at containing the economic failure with volunteer efforts, public works projects, and much more; none of which provided economic relief during the time. The second episode is the somewhat current economic crisis, which has begun during the George W. Bush administration and carried over to the Barack Obama administration. George W. Bust, the 41st president of the United States of America, faced issues during his second term when America entered its longest post World War II recession. Bush enacted numerous economic programs in order to preserve our nation’s financial systems. In this context, Presidents Herbert Hoover and George W. Bush were forced to combat with a negative economy. It is certain that the presidencies of both the United States’ 31st president, Herbert Hoover, and 41st president, George W. Bush, are...
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...nturn follows the conservative logic employed by Herbert Hoover.
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Herbert Hoover and Franklin Delano Roosevelt belonged to two different political parties, so it was inevitable that the two would handle the great depression differently. President Hoover, a republican, dealt with the depression in a more conservative manner; in his eyes, the federal government should not intervene. President Roosevelt was a Democrat during the great depression that took initiative and created governmental agencies to create jobs and therefore create and complete public service and infrastructure projects. President Roosevelt dealt with the depression in a better manner than Hoover.
The Great Depression tested America’s political organizations like no other event in United States’ history except the Civil War. The most famous explanations of the period are friendly to Roosevelt and the New Deal and very critical of the Republican presidents of the 1920’s, bankers, and businessmen, whom they blame for the collapse. However, Amity Shlaes in her book, The Forgotten Man: A New History of the Great Depression, contests the received wisdom that the Great Depression occurred because capitalism failed, and that it ended because of Roosevelt’s New Deal. Shlaes, a senior fellow at the Council on Foreign Relations and a syndicated financial columnist, argues that government action between 1929 and 1940 unnecessarily deepened and extended the Great Depression.
The Great Depression wreaked havoc on the economy, and in light of this President Hoover and President Franklin D Roosevelt Both initiated programs and policies to counter act the effects, however both had very different approaches with varying degree of efficacy. Through their actions, the American people would generally perceive both men quite differently, and cultivated fear in direct respect to both men's approach--both men would earn their critics as the long term effects played out. Hoover and FDR had fairly opposite approaches to solving this horrid depression.
"Wealth Inequality in the United States." Wikipedia. Wikimedia Foundation, 18 Apr. 2014. Web. 19 Apr. 2014.
After nearly a decade of optimism and prosperity, the United States took a turn for the worse on October 29, 1929 the day the stock market crashed, better known as Black Tuesday and the official beginning of the Great Depression. The downfall of the economy during the presidency of Herbert Hoover led to much comparison when his successor, Franklin D. Roosevelt, took office. Although both presidents had their share of negative feedback, it is evident that Hoover’s inaction towards the crises and Roosevelt’s later eccentric methods to simulate the economy would place FDR in the positive limelight of fixing the nation in one of its worst times.
“A Guide to Statistics on Historical Trends in Income Inequality.” cbpp.org. Center on Budget and Policy Priorities, 2013. Web. 06 April. 2014. .
Stone, Chad, Danilo Trisi, Arloc Sherman, and William Chen. "Center on Budget and Policy Priorities." A Guide to Statistics on Historical Trends in Income Inequality. Center on Budget and Policy Priorities, 6 Nov. 2013. Web. 03 Dec. 2013. .
"Theodore Roosevelt." Presidential Administration Profiles for Students, edited by Kelle S. Sisung and Gerda-Ann Raffaelle, Gale, 2003. U.S. History in Context, link.galegroup.com/apps/doc/BT2304100034/UHIC?u=olat15213&xid=0a102ad7. Accessed 16 Oct.
President Franklin D. Roosevelt faced one of the biggest challenges ever when he was first inaugurated March 4, 1933. This was right in the hart of the depression. F.D.R. came up with the new deal to try and pull our country out of the depression. After his first new deal F.D.R. came up with the second new deal and 11 other plains of making the American people pull out of debt.
Throughout the years, “ U.S income inequality has been increasing steadily since the 1970s and now has reached levels not seen since 1928” (Source A).
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Obama, Barack. "President Barack Obama's Inaugural Address." The White House. Office of the Press Secretary, 21 Jan. 2009. Web. 5 Apr. 2014.
Price, Mark. “The Increasingly Unequal States of America: Income Inequality by State, 1917 to 2011.” Economic Policy Institute. N.p., 19 Feb. 2014. Web. 30 Apr. 2014
The Great Depression was a period in America’s history that scarred the economic welfare of it citizens, however when it was over the many lessons were learned and the American people became stronger than before. Leaders and politicians kept a positive attitude and expected that once the country bounced back from the lost, that it would be an uphill battle to sustain the economy. President Herbert Hubert stayed optimistic but he could not dodge being blamed for the economic downfall by the American people and as a result was not re-elected. Many believed that The Great Depression was just a recession that could have been remedied, instead leading monetary authorities made poor decisions that caused the recession to worsen.