Thursday, May 31, 2012

Some cartoons about the Great Depression during Hoover´s presidency

Yesterday we studied that the USA government followed the liberal othodoxy at the beginning of the economic crisis. They expected that the "invisible hand of the market" would solve the problems without any political intervention. But the evidence showed that things wouldn´t work if reforms were not done. President Hoover's government followed a deflationist policy, increased tariffs to protect the USA production and started some emergency programs to help the poor, but the intervention of the government in economy didn´t start until Franklin D. Roosevelt started ruling in March 1933. 

Here you have some political cartoons about the Great Depression during Hoover´s presidency: 

















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