By William J. Barber
In renowned imagery, Herbert Hoover is frequently stereotyped as a 'do-nothing' president who provided in basic terms nineteenth-century slogans for the best monetary disaster in twentieth-century American heritage. not anything can be farther from the reality. This research examines the houses of an cutting edge method of financial development and balance formulated by way of Hoover and his affiliates in the course of his years as secretary of trade (1921-9) and inspects his deployment of this approach from the White condominium following the good Crash within the autumn of 1929. cognizance is then fascinated with Hoover's makes an attempt to reformulate his macro-economic programme because the melancholy deepened in past due 1931 and 1932. Archival fabrics supply arresting insights into Hoover's aspirations for a brand new establishment - the Reconstruction Finance agencies - as a automobile for exciting funding via a singular type of 'off-budget' financing. to counterpoint the dialogue of Hoover's theories of financial coverage of their numerous manifestations, the perspectives of up to date economists on difficulties of the day are surveyed.
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Extra info for From New Era to New Deal: Herbert Hoover, the Economists, and American Economic Policy, 1921-1933
Sample text
We can only remark at the foresight of the war and defense department people who seized on the concept to fill urgent requirements. To the rising generation of computer designers after the war (and to the public), all this effort came to be symbolized by the ENIAC, designed and built by a group at the Moore School in the University of Pennsylvania, funded, and in some respects guided, by the US Army from the Ballistics Research Laboratory of the Aberdeen Proving Ground. The story of the ENIAC has become well-known since its demonstration in .
ONR’s Naval Research Laboratory, for example, pursued its interests in naval-related weaponry. While waiting on the outcome of congressional debate over the establishment of a foundation to support research, the ONR began a funding program to provide support for scientists and engineers at universities and in industry to maintain the flow of knowledge considered important to national security, including computing. ONR sponsored a major project at the Raytheon Corporation; the army funded EDVAC at the University of Pennsylvania, as well as the Institute for Advanced Study (IAS) machine at the IAS in Princeton; and the navy supported Harvard’s project on the Mark III computer.
Support for this project was provided by the ESRC grant no. R . 22 Richard Coopey Notes . -J. Servan-Schreiber, The American Challenge, London, Hamish Hamilton, . . -J. Servan-Schreiber, The American Challenge, p. . . K. Flamm, Targeting the Computer: Government Support and International Competition Washington, Brookings, ; A. L. Norberg and J. E. O’Neill, Transforming Computer Technology: Information Processing for the Pentagon –, Baltimore, Johns Hopkins, ; P.