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What was Hoover's philosophy of government?
Hoover believed that the federal government could not give direct aid to individuals. He believed in free market capitalism and did not think the constitution gave the federal government the power to set prices.
What are some examples of how government actions can affect prices and are the prices in equilibrium or disequilibrium before and after the government's actions?
One could be by Rent Control and another of Price Ceiling
Pros and cons of mixed economy?
The major merit of a mixed economy is that the public is protected because the government is in charge of public services, and prices are low because of competition in the private sector. A major demerit is that taxes may prohibitively high in order to support government programs.
Why does prices rise when the government prints too much money?
If the government prints too much money and inflation gets out of hand, investors will not trust the government and it will be hard for the government to borrow anything at all.
What reforms did the populist party promote?
Revising the ownership of the means of production, Graduated income tax, elimination of corruption, free health care for all, control of prices, food sufficiency, open access to social services, education for all, government intervention into private lives and all decision making to be carried out by government for equality to prevail.
