economic philosophy of the 3 conservative presidents
The three presidents of the Progressive Era were very much progressive. They created and enforced regulations that protected America's consumers, workers, and environment. Specifically, Teddy Roosevelt built the "Trust- busting" method in which bad trusts, or monopolies were "busted," while good corporations were allowed to thrive. The three presidents of the 1920's were quite the opposite. Rumored to be the three worst presidents America has seen, they believed in different economic philosophies. For example, "Laissez Faire" was an economic policy in which the government would leave businesses alone entirely. Also, "rugged individualism" was a popular idea that people should succeed through their own efforts, rather than depending on the governments help. Hoover, in particular stated, "We in America today are nearer to the final triumph over poverty than ever before in the history of any land" (Danzer 2). He said this while essentially ignoring the widening income gap between the rich and poor. On the other hand, Teddy Roosevelt said, "I did not usurp power, but I did greatly broaden the use of executive power" (United States 1). Teddy used his power as president effectively, and his work resulted in a fair system for America's economy that could only get better! The next three presidents ruined all of his work and focused on the rich, backing away from the trust-busting techniques. Their doings had made the small percentage of America's people who were wealthy even more wealthy, and the poor substantially more poor. Overall, many were left in debt from purchasing new creations that they couldn't afford, and a large income gap had developed that would take years to fix.
Above are the three presidents of the 1920s who believed in the "Laissez Faire" policy.
The above video summarizes the 1920s in an effective way, and presents other information that might be needed in order to reach a better understanding of the events that occurred during that era.