Why did Hoover fail to solve the Great Depression?
1 Answer
He did not react properly
Explanation:
Hoover reacted to the Great Depression by introducing Protectionist measures (Smoot-Hawley) which increased tariffs dramatically and Europe retaliated with similar measures and thus American exports to Europe were harmed.
Democrats nicknamed Hoover "Do nothing" as they accused him of sticking to laissez faire economics instead of resorting to government intervention. Nevertheless, libertarians like Rothbard and some Conservatives like Ron Paul blame him for having actually brought the government into the economy( by collaborating with the unions for instance).
They pointed at the fact he had been called the "Food Tsar" during WWI as he was in charge of supplying Europe with food and claimed that the accusations of the Left against are therefore irrelevant.
