THE ROARING 20S 1920 1929
1920S AMERICAN CULTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Not interfere with the economy but rather let the economy right itself.
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Provide direct relief to the American public
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Only interfere if our national security was threatened
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Only interfere on a temporary basis to stop inflation
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Detailed explanation-1: -Examples of laissez-faire leadership. The examples include: Herbert Hoover. Our 31st president was well-known for having a laissez-faire approach in politics. He used this leadership style as he trusted his teams and their experience and was extremely successful with this leadership approach.
Detailed explanation-2: -The policy of laissez-faire received strong support in classical economics as it developed in Great Britain under the influence of the philosopher and economist Adam Smith.
Detailed explanation-3: -He believed in a limited role for government and worried that excessive federal intervention posed a threat to capitalism and individualism. He felt that assistance should be handled on a local, voluntary basis. Accordingly, Hoover vetoed several bills that would have provided direct relief to struggling Americans.
Detailed explanation-4: -Laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention. The theory of laissez-faire was developed by the French Physiocrats during the 18th century. Laissez-faire advocates that economic success is inhibited when governments are involved in business and markets.