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Why Was The Federal Government's Mistake Between 1914-1938

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The Federal Government's mistake between 1914 and 1938 was its laissez-faire approach to the economy during the Great Depression. This period of widespread economic decline lasted from 1929 to 1939 and affected the entire world. The Federal Government, under President Herbert Hoover, believed in the principles of classical economics, which emphasized the idea that the market would eventually correct itself through the invisible hand of the market. However, this resulted in a hands-off approach to the economy and a refusal to take any significant measures to stimulate economic growth and alleviate the suffering of the American people. The consequences of this mistake were disastrous for the American people. Unemployment rates skyrocketed, reaching

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