the great depression herbert hoover’s volunteerism
TRANSCRIPT
CAUSES OF THE DEPRESSION
• I. Fundamental Flaw in Economy of 1920s• A. Overproduction/Underconsumption• 1. Want in the Midst of Plenty• II. Other Basic Causes• A. Overextension of Credit on Wall Street• 1. Buying on Margin• B. Lack of government oversight
Hoover’s Volunteerism
• Hoover did not believe that the government should lead the way to end the economic depression, instead wanting to rely on private measures to solve it.
• He spoke out against the New Deal, the economic policy that served as the basis of Franklin D. Roosevelt's successful bid for the 1932 presidential election.