History 1807 Lecture Notes - Lecture 35: Herbert Hoover

• School: Western University
• Department: History
• Course: History 1807
• Professor: Jeffery Vacante

Document Summary

Many debates regarding the regulatory state which was created in. More people start to use the stock market, as there was greater availability of money this leads to bank failures. As people had borrowed money, when they started losing in the stock market, they would lose everything. Herbert hoover, president during depression was an ideologist of the free market, so he did nothing. Roosevelt replaced him and spent money in the market, jobs were created in short term. Kanes said that the solution to depression was to change iscal/monetary policy, but was unable to do this due to the lack of saving in the economy. The government should always be doing the opposite of what the economy is doing- kanes- is the most important guy since adam. Ww2 gave everyone a job, people had money to spend and there was the circulation of money/ stimulant and jolt in the economy. United nations is created after second world war.