Herbert Hoover's Economic Philosophy

Herbert Hoover, running for president in 1928, discusses the American system of self-government, emphasizing liberty, freedom, and equal opportunity. He contrasts this with the European philosophy of socialism, warning against government overreach. Hoover highlights the failures of government in business and advocates for rugged individualism. He concludes by urging voters to support his vision for America.

What does Herbert Hoover identify as the foundation of the American system?

• State socialism

• Ordered liberty and equal opportunity

• Paternalism

• Government control

What year is Herbert Hoover running for president?

• 1924

• 1928

• 1932

• 1936

During World War I, what temporary change did the United States undergo?

• Isolation from global affairs

• Complete deregulation of business

• Shift to a socialistic state

• Adoption of a European philosophy

What does Hoover believe would happen if the government continued wartime practices in peacetime?

• It would destroy progress and freedom

• It would enhance the American system

• It would lead to economic growth

• It would have no impact

What does Hoover argue would be the result of government interference in business?

• Diminished mental and spiritual energies

• Enhanced political equality

• Greater economic prosperity

• Increased liberty

What role does Hoover believe the government should play in the economic game?

• A player

• An umpire

• A coach

• A spectator

According to Hoover, what has he observed about government-run businesses abroad?

• They lead to higher standards of living

• They result in tyranny and injustice

• They foster innovation and progress

• They are more efficient than private enterprises

What does Hoover say about Russia's natural resources compared to the United States?

• They are inferior

• They are superior

• They are equal

• They are irrelevant

What does Hoover claim the American system has nearly abolished?

• Political freedom

• Government intervention

• Fear of want

• Economic inequality

What does Hoover warn will happen if America departs from its system?

• Increased liberty

• Political stability

• Jeopardized freedom

• Economic prosperity