Question

Can someone also help me with this one too ?

Answer 1

It was based on Protectionism . Hoover’s response to the Great Depression was the Smoot-Hawley tariff which rose tariffs on over 20,000 products. This measure led to retaliation from foreign countries especially from Europe and they rose their own tariffs on their American imports, the American cab economy was hit back and it explains why Hoover’s policy failed.Hoover was nicknamed “Do nothing” by the Democrats , they blamed him for sticking to Laissez Faire economics, but this accusation was wrong as he pushed for more state intervention which eventually failed.

Answer 2

At the start - very little. Believed that it was simply a temporary dip in the economy

Increased taxes

Smoot Hawley Tariff Act, 1929 - raised import taxes - was meant to increase American trade but destroyed businesses relying on imports as well as leading to retaliatory taxes on American goods from other countries

He called business leaders to the White House to urge them not to lay off workers or cut wages

In 1931 he backed creation of the Reconstruction Finance Corporation (RFC, established 1932) to give loans to businesses etc.