Hoover's Response to the Great Depression - Unit 7

The government should play a major role in individuals' economic lives.

Individuals and businesses should not rely on government assistance.

The economy thrives best with high levels of taxation and regulation.

International trade agreements are detrimental to economic growth.

Passed a $160 million tax cut

Created a comprehensive social safety net

Increased direct federal aid to citizens

Nationalized major industries

To provide direct financial aid to farmers

To help farm cooperatives purchase surplus crops from farmers

To regulate crop prices

To distribute land to new farmers

Flood control

Electricity generation

Water supply management

Providing direct financial aid to farmers

Extensive social welfare programs

Limited intervention with a focus on encouraging private sector solutions

Nationalization of banks and major industries

Large-scale public works programs