[Abridged] Presidential Histories
31.C) Herbert Hoover & the origins of The Great Depression, an interview with Robert McElvaine
"The fundamental business of the country, that is, production and distribution of commodities, is on a sound and prosperous basis," - Herbert Hoover, on the eve of the Great Depression, Oct. 25, 1929
What caused the Great Depression? Robert McElvaine, a professor of history at Millsaps College and the author of Down and Out in the Great Depression: Letters from the “Forgotten Man” and The Great Depression: America, 1929-1941, argues the very factors that made the 1920's roar were the instruments of its destruction - mass production, easy credit, and an ads industry that told Americas, 'spend away today, don't worry about tomorrow.'
"The fundamental business of the country, that is, production and distribution of commodities, is on a sound and prosperous basis," - Herbert Hoover, on the eve of the Great Depression, Oct. 25, 1929
What caused the Great Depression? Robert McElvaine, a professor of history at Millsaps College and the author of Down and Out in the Great Depression: Letters from the “Forgotten Man” and The Great Depression: America, 1929-1941, argues the very factors that made the 1920's roar were the instruments of its destruction - mass production, easy credit, and an ads industry that told Americas, 'spend away today, don't worry about tomorrow.'