Asked by Julissa Ortega on Jul 14, 2024
Verified
In response to the depression, many prominent business leaders ______________________.
A) advocated using Mussolini's reforms in Italy as the model for establishing a corporatist society
B) believed that economic downturns were a beneficial and natural part of the business cycle and simply should be allowed to run their course
C) advised President Hoover to rigidly enforce antitrust laws in order to restore competition
D) actively campaigned for the implementation of a federal jobs program
Corporatist Society
A social and political system in which interest groups, such as businesses and trade unions, are integrated into the government structure, influencing policies and decisions.
Economic Downturns
Periods when the economy as a whole is in decline, characterized by reduced industrial production, trade, consumer spending, and employment rates.
Business Leaders
Individuals who hold positions of power and influence within businesses and corporations, guiding strategic direction, growth, and operational decision-making.
- Gain insight into how governments reacted to the challenges of unemployment and economic adversity in the early 20th century.
Verified Answer
ZK
Zybrea KnightJul 20, 2024
Final Answer :
B
Explanation :
Many prominent business leaders during the Great Depression believed in laissez-faire economics, which held that the government should not interfere in the economy and that economic downturns were a natural part of the business cycle that should be allowed to run their course without government intervention. They believed that the market would eventually correct itself and that the economy would recover on its own.
Learning Objectives
- Gain insight into how governments reacted to the challenges of unemployment and economic adversity in the early 20th century.