Compare and contrast Herbert Hoover's economic policies with those of Essay

Compare and contrast Herbert Hoovers economic policies with those of Franklin Roosevelt - Essay Exampleaissez-faire attitude was due to beliefs that the government should not be entirely answerable to the well-being of the peck and the government is incapable of regulating and controlling businesses.3 Hoovers beliefs were partly due to the belief that the economy would be able to funk back after several setbacks just like before, but these were ineffectual to explain why decreases in costs of production did not allow the glow of prices and subsequent economic growth, and Hoovers policies on letting the market forces, private sector as well as the Federal Reserve to drive the economy was unable to stimulate employment.4 The downward economic spiral was aggravated further by the declining federal revenues, relying on the gold standard when it was already abandoned by other(a) countries, and declining to spend and providing federal relief to people and wholly relying on local gover nment and charity.Franklin Roosevelt also had to deal with some similar setbacks such as traffic with deflation, preventing wages and prices from falling further to maintain the incomes of workers and employers as well as restoring the reliability of the banking system.5 Some of the New Deal programs were effective in stimulating pass and eventually raising the levels of commerce among the people. Roosevelts experimentalist views were able to push through some policies that Hoover might have not even thought of, such as expanding the role of the government in the business and economic sectors, departure from the gold standard, aiming to increase industrial and farm price levels, and the provision for income redistribution, which became the Social security system legislation.6However, while being effective in reviving the economy, some of the programs in the New Deal policy were counterproductive in some strategies. The employment of people by the government kept them earning, an d the increase in wages may have increased the spending of the workforce, but the tax increase compelled some