Asked by Amy~

What is the laissez-faire economics?

(related to Herbert Hoover)
Answered by Ms. Sue
"Laissez-faire" is a French term that basically means let things happen. "Laissez-faire economics" means that the economy should operate along without government interference.

http://mises.org/rothbard/agd/chapter7.asp

Answered by Amy~
One source says that Hoover denounced laissez-faire economics while another says that Hoover believed in laissez-faire economics.
Answered by Amy~
I think that the one where Hoover believed in the laissez-faire economics is the right one?
Answered by Ms. Sue
The truth is somewhere in between.

Hoover publicly rejected laissez-faire economics, but history shows that he didn't do enough to stave off the effects of the Depression. In other words, he allowed the government to intervene in business, but not to a very great extent.

His actions were middle-of-the road.

http://www.suite101.com/article.cfm/us_labor_history/101443

Answered by bobpursley
I am reminded that I know folks who believe in things, but denounce them. I know folks who love Boston Creame Pie, but curse it everytime they eat it because it is fattening. Such is life.
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