The American Economy at the Threshold of the Great Depression; The 1920s Economic Policy[Americká ekonomika na prahu Velké hospodářské krize Hospodářská politika 20. let]

For a long time during the twentieth century the mainstream economists and economic historians dealt with prevailing theory of basic difference between Herbert Hoover and Franklin Delano Roosevelt policies concerning to the Great depression. Nowadays, this contrast does not seem to be so evident. This paper is concerned with some important points of concurrence of these two economic and political systems. The focal point in the analysis of the 1920's American economic policy is the international situation and its substantial change after the World War I. The governments' inability or reluctancy to reflect these changes led to a number of incomprehensible government measures in the face of that great crisis. Another focal point is the apprehension of pre-crisis intellectual and ideal background, which obviously shows the continuancy the pre- and post-crisi politics.