Introduction
President Herbert Hoover and President Franklin D. Roosevelt each took different approaches to addressing the Great Depression, the most severe economic crisis in the United States’ history.
Hoover’s Approach
Hoover, a firm believer in laissez-faire economics, held the view that government should intervene minimally in the economy. He felt that voluntary cooperation between businesses and workers would resolve the crisis. Hoover’s main effort to combat the Depression was the Reconstruction Finance Corporation (RFC), which aimed to stimulate the economy by providing loans to struggling businesses (Wright and Locke). However, many Americans felt that Hoover’s response was inadequate and did little to halt the economic downturn. His reluctance to provide direct aid to individuals further tarnished his reputation.
Roosevelt’s Approach
In contrast, Roosevelt took a more direct approach to dealing with the economic crisis. His New Deal programs aimed at providing relief, recovery, and reform (Wright and Locke). Relief was provided to the unemployed and poor, recovery aimed to stabilize the economy to normal levels, and reform sought to prevent a similar catastrophe. Programs like the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), and the Social Security Act provided direct relief to millions of Americans (Wright and Locke).
Roosevelt’s methods were more successful than Hoover’s in alleviating the Great Depression. While the economy did not fully recover until World War II, the New Deal programs provided much-needed relief and helped stabilize it. The programs put millions of people back to work, stabilized banks, and restored confidence in the economy (Wright and Locke). Additionally, Roosevelt’s leadership and his “fireside chats” boosted the morale of the American people during a time of great uncertainty and fear.
Conclusion
While both Hoover and Roosevelt had good intentions, their approaches drastically differed. Hoover’s approach was rooted in traditional American values of self-reliance and limited government, while Roosevelt believed in a more active government role in the economy. Ultimately, Roosevelt’s approach proved more effective in dealing with the crisis, although World War II eventually ended the Depression.
Work Cited
Wright, Ben, and Joseph L. Locke. The American Yawp: A Massively Collaborative Open U.S. History Textbook, Vol. 2: Since 1877. Stanford University Press, 2022-2023.