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.
Capitalism rejects all government intervention in economic matters. The basis of capitalism is individualism not governed society
Capitalism or lassiez-faire
Social justice promotes equal opportunity for all. Capitalism is a system run by money and achivement of personal gains. So in some respects, capitalism is a system where the rich get richer and poor get poorer, and the poor have almost no way to climb out of poverty. Capitalism can be viewed as a discrimination based on wealth, and thus counters the idea of social justice.
Adam Smith developed the philosophy upon which capitalism is based: the free-market.
ADAM Smith, a scottish philosopher and economist. He provided the philosophy for capitalism in his book The Wealth of Nations.Answer on page 27 in United States Government: democracy in action textbook
There was more than one man who envisioned and discussed an economy called capitalism.Several names that stand out are Thomas Hobbes and Max Weber as providing a philosophy for capitalism. Adam Smith, a Scottish philosopher and economist, espoused another philosophy for capitalism in his book The Wealth of Nations...Regardless of how the capitalism economy finally became the primary economical and entrepreneurial system of the United States of America, it proved to be the most valuable economic experiment ever formulated and practiced in any country, and was extremely key and pivotal in the development and continued growth of all aspects of the USA.
Free market Capitalism