Републикански „Олд дил“ у борби са Великом светском економском кризом 1929 – 19321
Republican “Old Deal” vs. the Great Depression 1929 – 1932

Summary/Abstract: During the XIX century, the United States faced five economic depressions which the economy has managed to successfully overcome without state intervention. However, the Great Depression from the 1930-s impacted a very large part of the American population and it lasted unusually long, full 10 years. The Republican administration led by president Herbert Hoover strongly supported expansive monetary policies, it doubled federal funding for the public work projects and it tried to prevent the companies from decreasing their worker’s wages. Its greatest task was to restore confidence in the economy. According to some recent accounts, this was the real beginning of the New Deal. However, the fact that Hoover stopped the public work projects in 1932, that he insisted on keeping the gold standard and a balanced budget and that he believed that the local communities were responsible for taking care of the poor, made the state interventionism in American economy from 1929 to 1932 a symbol of what is today known as “the Old Deal”.

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