Question

how did president hoovers approach toward the economy compare with calvin coolidge approach

Answer 1

[AI-generated answer — Bot GPT 3.5]

President Hoover's approach toward the economy was similar to Calvin Coolidge's in some ways, as both were proponents of laissez-faire economics and believed in limited government intervention in the economy. However, Hoover's approach differed in that he did implement some interventionist measures in response to the Great Depression, such as establishing the Reconstruction Finance Corporation to provide loans to struggling businesses and banks.

Coolidge, on the other hand, was more hands-off in his approach and favored reducing government spending and lowering taxes to stimulate economic growth. Hoover also increased government spending and raised taxes in an attempt to combat the Depression, but these measures were largely unsuccessful in bringing the country out of the economic downturn. Additionally, Hoover's policies were criticized for being too slow and ineffective in addressing the severity of the crisis. Ultimately, Hoover's approach toward the economy was more interventionist than Coolidge's, but still fell short in dealing with the challenges of the Great Depression.