Final answer:
Herbert Hoover strove to combat the Great Depression with a philosophy rooted in 'rugged individualism' and minimal government intervention. He eventually implemented measures such as public works programs, a tax cut, and the RFC, but these were considered insufficient and late, contributing to his political defeat and paving the way for the New Deal.
Step-by-step explanation:
President Hoover's Efforts during the Great Depression
President Herbert Hoover's response to the Great Depression has been widely debated. Upholding his belief in rugged individualism and limited government intervention, he initially called upon businesses and individuals to work through the economic crisis voluntarily.
However, as the depression worsened, Hoover implemented more direct actions, such as expanding public works programs, enacting a $160 million tax cut, and establishing the Reconstruction Finance Corporation (RFC) to provide loans to businesses. Despite these measures, Hoover's response was seen as insufficient and delayed, failing to offer the immediate relief needed by millions of Americans. Even with efforts like the President's Emergency Committee for Employment (PECE) and appeals to wealthy individuals to donate, the crisis deepened, setting the stage for a change in leadership and approach with the election of Franklin D. Roosevelt.