Mises Wire
Author:
Vibhu Vikramaditya
Online Publish Date:
Herbert Hoover’s presidency is often mythically mischaracterized as a period of strict nonintervention in the economy. However, it was in fact defined by a series of economic maneuvers that not only deviated from laissez-faire ideology, but also significantly contributed to the onset of the Great Depression. He initiated his term in 1929 with a