Some of Hoover's economic policies during the Great Depression were the Smoot-Hawley Tariff, tax reduction and great public works projects. Herbert Hoover was the 31st President of the United States. Hoover's name became synonymous with the Great Depression because of terms such as Hooverville, Hoover blankets and Hoover flags, which characterized poverty and human suffering.Continue Reading
The Smoot-Hawley act of 1930 was a bill that increased the taxes of imported goods. The bill was enacted with the intent of protecting domestic manufacturers from foreign competition. The belief was that less competition would lead to the American people purchasing more American made products. The Smoot-Hawley bill did little to revamp the failing economy and led to an overall significant decrease in international trade and an increase in unemployment.
Hoover also created bills to lower taxes, such as the Revenue Act of 1932. The tax bill did not ignite the American economy like Hoover thought it would, but made it worse instead. Hoover also led efforts at massive construction facilities such as the Hoover Dam. These facilities were built with the intent of giving money to construction companies and providing jobs for many Americans. Hoover made efforts to reignite the economy during his presidency, but the Great Depression was already in full force at the time he passed these legislation measures.Learn more about Economics