In popular imagery, Herbert Hoover is often stereotyped as a 'do-nothing' president who offered only nineteenth-century slogans for the greatest economic catastrophe in twentieth-century American history. Nothing could be further from the truth. This study examines the properties of an innovative approach to economic growth and stability formulated by Hoover and his associates during his years as secretary of commerce (1921-9) and inspects his deployment of this strategy from the White House following the Great Crash in the autumn of 1929. Attention is then focused on Hoover's attempts to reformulate his macro-economic programme as the depression deepened in late 1931 and 1932. Archival materials provide arresting insights into Hoover's aspirations for a new institution - the Reconstruction Finance Corporations - as a vehicle for stimulating investment through a novel form of 'off-budget' financing. To complement the discussion of Hoover's theories of economic policy in their various manifestations, the views of contemporary economists on problems of the day are surveyed.
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Editorial Reviews
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'Barber has written an exciting, well crafted and important book that succeeds in what it sets out to do. It deserves a careful reading by all serious students of the Hoover period, American economic thought, and American economic policy.' The Journal of Economic History
'This carefuly researched volume is valuable for the insight which it gives into Hoover's changing economic strategy. It also presents, with great clarity, the varied opinions of professional economists.' The Times Higher Education Supplement
'This carefuly researched volume is valuable for the insight which it gives into Hoover's changing economic strategy. It also presents, with great clarity, the varied opinions of professional economists.' The Times Higher Education Supplement
Book Description
This study examines the properties of an innovative approach to economic growth and stability formulated by Hoover and his associates during his years as secretary of commerce (1921-9) and inspects his deployment of this strategy from the White House following the Great Crash in the autumn of 1929.
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First Sentence:
By the standards now applied by the editors of professional journals, the model of the economy worked out in the 1920s by Hoover and his associates would be judged to be deficient in rigor. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
stimulating spending, construction spending, stabilization model, federal borrowing, relief loans, public works spending, federal public works, stabilization strategy, lending capacity, gold convertibility, official model, general price level Key Phrases - Capitalized Phrases (CAPs): (learn more)
Federal Reserve, United States, White House, New York, Department of Commerce, Commerce Department, Reconstruction Finance Corporation, Recent Economic Changes, American Economic Association, National Credit Corporation, President's Conference, Irving Fisher, University of Chicago, Columbia University, Goldsborough Bill, American Engineering Council, Benjamin Strong, Interstate Commerce Commission, Wall Street, Wesley Mitchell, World War, Alvin Hansen, Census Bureau, Federal Employment Stabilization Board, Federal Farm Board New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
By the standards now applied by the editors of professional journals, the model of the economy worked out in the 1920s by Hoover and his associates would be judged to be deficient in rigor. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
stimulating spending, construction spending, stabilization model, federal borrowing, relief loans, public works spending, federal public works, stabilization strategy, lending capacity, gold convertibility, official model, general price level Key Phrases - Capitalized Phrases (CAPs): (learn more)
Federal Reserve, United States, White House, New York, Department of Commerce, Commerce Department, Reconstruction Finance Corporation, Recent Economic Changes, American Economic Association, National Credit Corporation, President's Conference, Irving Fisher, University of Chicago, Columbia University, Goldsborough Bill, American Engineering Council, Benjamin Strong, Interstate Commerce Commission, Wall Street, Wesley Mitchell, World War, Alvin Hansen, Census Bureau, Federal Employment Stabilization Board, Federal Farm Board New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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This book cites 43
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44
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- The Economic Mind: 2 by Joseph Dorfman in Back Matter (1), Back Matter (2), and Back Matter (3)
- Herbert Hoover (United States Presidents) by Paul Joseph in Back Matter (1), Back Matter (2), and Back Matter (3)
- The Economic Consequences of the Peace (Classic, 20th-Century, Penguin) by John Maynard Keynes in Back Matter (1), and Back Matter (2)
- Monetary Reform by John Maynard Keynes on page 25, and Back Matter
- Waste in Industry (Hive management history series, no. 58) by Federated American Engineering Societies on page 13, and Back Matter
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- A Perilous Progress: Economists and Public Purpose in Twentieth-Century America. by Michael A. Bernstein on 4 pages
- Designs within Disorder: Franklin D. Roosevelt, the Economists, and the Shaping of American Economic Policy, 1933-1945 (Historical Perspectives on Modern Economics) by William J. Barber in Front Matter, Back Flap, and Back Cover
- Forged Consensus by David M. Hart on page 41, and Back Matter
- The Oxford Companion to United States History (Oxford Companions) by Paul S. Boyer on page 210, and page 346
- Three Cheers for the Unemployed: Government and Unemployment before the New Deal by Udo Sautter on page 191, and page 229
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