How did herbert hoovers beliefs about business and government affect the economy?

Herbert Hoover believed in limited government intervention in the economy and upheld the principle of voluntary cooperation between businesses and government. He thought that the economy would self-correct through market forces, leading him to resist direct federal assistance during the Great Depression. This approach contributed to prolonged economic hardship, as his policies were insufficient to address the scale of the crisis, ultimately leading to a loss of confidence in both the economy and the government’s ability to manage it. Consequently, Hoover's beliefs hindered timely intervention that might have alleviated some of the economic suffering.