President Hoover

Definition

President Herbert Hoover was the 31st president of the United States, serving from 1929 to 1933. He is often associated with his response to the Great Depression and is known for his belief in limited government intervention during economic crises.

Related terms

Stock Market Crash: The significant decline in stock prices that occurred in October 1929, marking the beginning of the Great Depression.

Volunteerism: Hoover's approach to addressing economic issues by encouraging private citizens and businesses to voluntarily contribute their resources rather than relying on government intervention.

Hawley-Smoot Tariff Act: A protectionist trade policy enacted under Hoover's administration, which raised tariffs on imported goods, ultimately worsening global economic conditions.