3. Herbert Hoover

Presidential term: March 4, 1929 – March 4, 1933

Herbert was the proponent of the concept of public-private cooperation, as a way to gain high long-term growth. Hoover dreaded that too much governmental interference or bullying can destroy Americans individuality and self-reliance. Both Hoover ideals and America’s economy were put to the test with the onset of the Great Depression.

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Though Hoover may not have intended to create the Great Depression, but his economic policies were responsible for stretching the crisis longer than it should naturally have ended. Things got worse when in the midst of the crises Hoover passed the Smoot-Hawley Tariff Act. The new law uplifted the import tariffs on over 20,000 goods to record levels, initiated foreign trade wars and made the Depression even deeper. Hoover had the opportunity to be one of the greatest presidents of all time, but instead his political career ended up victimizing America of the Great Depression.

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