Question

With a Republican-controlled Congress behind him, the Republican Calvin Coolidge sought to promote industrial growth by cutting back federal regulation. As president, he viewed his greatest accomplishment as "minding [his] own business" because "four-fifths of our troubles would disappear if we would sit down and keep still." What does President Coolidge’s perspective on capitalism and the role of the president demonstrate about Republican party policy in the 1920s and its relationship with the progressivism of the early twentieth century?

Answer 1

Calvin Coolidge's presidential perspective during the 1920s represented the Republican Party's pro-business, minimal intervention approach, diverging from earlier progressivism and promoting laissez-faire capitalism.

Step-by-step explanation:

President Calvin Coolidge's views on capitalism and the presidential role exemplify the Republican Party policy during the 1920s, which favored industrial growth with minimal federal regulation. This stance marked a departure from the progressivism of the early twentieth century, emphasizing government intervention to address social and economic issues. Coolidge's approach, encapsulating the sentiment that "the business of America is business," resonated with the party's pro-business priorities, yet he occasionally supported progressive goals such as child-labor laws and environmental protection. However, his fundamental belief was in the effectiveness of laissez-faire governance, symbolized by his admiration for business leaders and the perspective that wealth and poverty were the just outcomes of one's actions.

Coolidge's Philosophy and Legacy

Coolidge's philosophy suggested a faith in the Puritan work ethic, and his hands-off approach to governance often tilted towards supporting the interests of wealthy businessmen. Even as President Herbert Hoover aimed to continue the policies of the previous Republican administrations under Warren G. Harding and Coolidge, the looming economic downturn would challenge the efficiency of these policies. The 1920s Republican ascendancy reflected a shift away from progressive regulation towards a laissez-faire economy reminiscent of the Gilded Age. Ultimately, this period highlighted the tensions between limited government intervention and the needs of broader societal regulation.