Roosevelt, Franklin Delano

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How was the laissez-faire approach to economics different from the president Franklin Roosevelt's approach?

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The laissez-faire, or "let it alone," approach to economics is the belief, popularized by Adam Smith, that the economy performs best when the market is free to select winners and losers. President Herbert Hoover, Franklin Delano Roosevelt's predecessor, preferred this approach to economics and, as a result, some are inclined to blame him for not responding swiftly or appropriately to the impending Great Depression.

Though Hoover believed that aggressive government programs, such as Roosevelt's First and Second New Deal, were at the root of fascism, Hoover faced a great deal of criticism from other Republicans for his favorable attitude toward public works projects and his requests to businesses...

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