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How Did President Hoover Cause The Great Depression

294 Words2 Pages
During the World War I, there was massive loss of American human and capital resources. America was also in a great international debt which President Hoover thought to be their number one cause of great depression. Different sectors like agriculture and domestic production was largely affected by low pricing and expensive tools of input. Economist on the other hand believed unemployment to be major cause of The Great Depression.

President Hoover also realized that just increasing the taxes would not make the debt smaller but only make the social status of the citizens even worse. The government could not really do a lot to help the banks from crashing because the economy was not regulated as much however President Hoover introduced
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