The Great Depression is probably one of the most misunderstood events in American history. It is routinely cited as proof that unregulated capitalism is bad, and that only a massive welfare state, huge amounts of economic regulation, and other interventions, can save capitalism from itself. Among the many myths surrounding the Great Depression are that Herbert Hoover was a laissez faire president and that FDR brought us out of the depression. In order to investigate …
showed first 75 words of 898 total

showed last 75 words of 898 total
…was a savoir for the United States and boldly brought the US out of the depression. However this is not correct, there were several reasons for the depression including the hoarding of money and the use of tariffs. In addition Hover was not a lassie faire president and instead attempted to fix the problem, however preformed and attempted the wrong approaches. Lastly FDR towards the end of the depression actually contributed and extend its length.