The Myth of Herbert Hoover

Discussion in 'Politics' started by ShackledNation, Jul 12, 2011.

  1. ShackledNation
    Offline

    ShackledNation Libertarian

    Joined:
    Jun 16, 2011
    Messages:
    1,885
    Thanks Received:
    208
    Trophy Points:
    130
    Location:
    California
    Ratings:
    +324
    It has become a common misunderstanding that Herbert Hoover was a laissez-faire man and epitomized the failure of free market capitalism. Far from it, Hoover was the most interventionist president the US had ever known. FDR based much of his New Deal on Hoover's own New Deal.

    Whenever anyone demands government be scaled back, taxes lowered, and spending decreased, people point to Hoover as evidence that these policies are utter failures. Unfortunately, Hoover's policies were so interventionist that FDR called him a socialist on the campaign trail. You heard me, FDR, the epitome of "big government", criticized Hoover for intervening too much.

    Dispelling The Herbert Hoover Myth - CBS News

    Wait, Herbert Hoover Wasn't a Libertarian? - Hit & Run : Reason Magazine
    Herbert Hoover's New Deal - Hit & Run : Reason Magazine
    What does "Emergency Relief and Construction Act" sound like to you? Not the Obama Stimulus, perhaps?

    FDR calling for a balanced budget seems ironic in retrospect.

    I hope you all get the point. Hoover was by no means a free market man. He is in the same camp as all the other big government spenders today. Defenders of the stimulus point to Hoover as an example of failure and then pursue the exact same policies. Again, the famous mantra manifests itself: "Those who do not remember history are condemned to repeat it."

    We Americans have been quite forgetful indeed. And the consequences will be disastrous.
     
  2. Antiderivative
    Offline

    Antiderivative BANNED

    Joined:
    Apr 17, 2011
    Messages:
    1,616
    Thanks Received:
    103
    Trophy Points:
    0
    Ratings:
    +103
    • Thank You! Thank You! x 1
  3. ShackledNation
    Offline

    ShackledNation Libertarian

    Joined:
    Jun 16, 2011
    Messages:
    1,885
    Thanks Received:
    208
    Trophy Points:
    130
    Location:
    California
    Ratings:
    +324
    I have been meaning to read that work of his, believe it or not. Rothbard has more intelligent things to say about economics than anyone in recent times.
     
  4. Antiderivative
    Offline

    Antiderivative BANNED

    Joined:
    Apr 17, 2011
    Messages:
    1,616
    Thanks Received:
    103
    Trophy Points:
    0
    Ratings:
    +103
    Here is a great speech by him pointing out the fact the Federal Reserve was a creation pushed by the bankers, not by far sighted and enlightened government bureaucrats.

    [ame=http://www.youtube.com/watch?v=Ta7q1amDAN4]YouTube - ‪The Founding of the Federal Reserve | Murray N. Rothbard‬‏[/ame]
     
  5. Kuros
    Offline

    Kuros BANNED

    Joined:
    Jun 25, 2011
    Messages:
    550
    Thanks Received:
    64
    Trophy Points:
    0
    Location:
    Louisville
    Ratings:
    +64
    No Herbert Hoover thread would be complete without a Hawley-Smoot Tariff shout-out.

    As brain-dead as our Congress is, they haven't seen fit to fall into a protectionist frenzy as they did in 1930. The effect of Hawley-Smoot were massive retaliatory measures by foreign nations, and this when the US was as export-reliant as China is today.
     
  6. hellofromwarsaw
    Offline

    hellofromwarsaw BANNED

    Joined:
    Jul 14, 2010
    Messages:
    1,617
    Thanks Received:
    112
    Trophy Points:
    0
    Location:
    NY 26th finally Dem!
    Ratings:
    +112
    The Hoover administration, equipped with belief that the cycles of prosperity and contraction were a natural phenomenon, could not have anticipated the seriousness of the Great Depression. The change in the structure of the American economy was its natural evolution. Even the courts prevented most attempts of policy makers to engage in regulation that may have prevented collapse, or at least kept the problem from becoming so pervasive. The depth of the economic collapse could not have been envisioned, nor did the tools exist to fix it had policy makers recognized it. The entrenched nature of laissez-faire economic policy prevented any such action. These factors left the Hoover administration ill equipped to deal with the Great Depression. Even with his vast experience, Herbert Hoover was doomed to failure.

    Read more at Suite101: Herbert Hoover's Legacy: Great Depression Goat Inherited Laissez-Faire Economic Policy | Suite101.com Herbert Hoover's Legacy: Great Depression Goat Inherited Laissez-Faire Economic Policy | Suite101.com
     
  7. ShackledNation
    Offline

    ShackledNation Libertarian

    Joined:
    Jun 16, 2011
    Messages:
    1,885
    Thanks Received:
    208
    Trophy Points:
    130
    Location:
    California
    Ratings:
    +324
    I have read articles on mises.org discussing the creation of the Federal Reserve. It is shocking that people ignore the issue and pretend like it is for our own good. Why would the largest bankers favor a central regulating bank? Because it was a deal for them at the expense of everyone else.
     
  8. hellofromwarsaw
    Offline

    hellofromwarsaw BANNED

    Joined:
    Jul 14, 2010
    Messages:
    1,617
    Thanks Received:
    112
    Trophy Points:
    0
    Location:
    NY 26th finally Dem!
    Ratings:
    +112
    Depression bubble- Pubs, Tax Rates and huge rich/poor gap- Pubs, Smoot-Hawley=Pubs, Isolationism-Pubs

    ALWAYS A DISASTER! tyvm
     
  9. ShackledNation
    Offline

    ShackledNation Libertarian

    Joined:
    Jun 16, 2011
    Messages:
    1,885
    Thanks Received:
    208
    Trophy Points:
    130
    Location:
    California
    Ratings:
    +324
    The problem is big government, advanced by both parties for over a century. Get your mind out of the left-right paradigm gutter.
     
  10. mascale
    Offline

    mascale VIP Member

    Joined:
    Feb 22, 2009
    Messages:
    4,033
    Thanks Received:
    210
    Trophy Points:
    85
    Ratings:
    +453
    The federal spending levels of 1930 and 1931 were about the same. Federal Spending as a percentage of GDP went from 2% to 4% since there was no GDP anymore.

    Herbert Hoover was Quaker and resorted first to individualist, volunteer measures post 1929. Anything else came afterwards, reluctantly, and with insufficient magnitude.

    Hoover was a bad idea. But truly enough, Laissez-Faire does not exist. Economies rely on arithmetic, and courts are used to enforce the computing rules that are in place. Usually that is contract, but is a direct government interference in the market. In Exodus 22::25-27, for example--ARM's were shown a long time ago to be a bad idea. Interest rates are not supposed to be charged on loans to the poor. The rich get the different treatement, they get the tax hikes, and the interest rates on the loans.

    Just review that paragraph, and (1) Laissez-Faire is not what the Bible is about, and (2) laissez-faire is not what government, has ever been about. Government tends to be supportive, more of the rich: For example.

    Catholics have the famous crucifixion art, "Jesus Comments Unfavorably On The Laws of Moses!" in the churches and depictions. The New Testament, however, is also rife with zero expectations of repayments of loans to the poor, which are to be encouraged.

    Then it is back to the courts, and the lack of laissez-faire. That is not the way it works at all.

    Finally, but 1936, Keynes and not Hoover came up with a stronger suggestion of major government intervention in times of downturn. That goes back to the Testaments, but is reliant on more modern math.

    Now, None of what you just read posted can ever be discussed in any U. S. national schools whatsever--on their permanent records. That has been the case for 37 years.

    There is no laissez-faire! Even Herbert Hoover cannot be so-accused: Or even Presbyterians. Mormons can be. Smart is not a long suit, with some people. Vishnu actually is not too red-hot on Western Materialism either--unless it is electronic music.

    "Crow, James Crow: Shaken, Not Stirred!"
    (Teaching is clearly not possible at any grade level, without the doctoral degree, unless it is believed that some kids are better than other kids, and that all the other kids are not worth the extra effort! Clearly, there is no such thing as Laissez-Faire!)
     
    Last edited: Jul 12, 2011

Share This Page

Search tags for this page

why was herbert hoover called an interventionist