What , according to the economists , caused the Great Depression in the 1920's ?
Regarding the policies of President Hoover , economists like Barry Eichengreen and J. Bradford DeLong point out that the Hoover administration ’s fiscal policy was guided by liquidationist economists and policy makers , as Hoover tried to keep the federal budget balanced until 1932 , when Hoover lost confidence in his Secretary of the Treasury Andrew Mellon and replaced him .