How did the United States go from the prosperous "Roaring 20s" to the Great Depression? Summarize the causes of the Great Depression and determine why President Herbert Hoover's actions did not restore the ailing economy. Then, evaluate President Franklin Delano Roosevelt's policies dealing with the Great Depression.
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Many people began speculating in stocks. The stocks were eventually found to be worthless ... at least not worth as much as people were paying for them ... People lost their fortunes in the collapse of the stock market, leading to businesses failing, banks failing, loss of jobs ... very high unemployment rates. Hoover's inaction was due to his belief that the economy would "right" itself and offering no governmental interaction to help bring back jobs and help the economy get started.
FDR's policies were to start governmental programs (IE. WPA) to get jobs for the unemployed .. People working will have money to spend and that gets the economy running again.