Herbert Hoover Quotes


I am convinced that ... we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented.


Citations

Hoover, Herbert. "Statement to the Press." Public Papers of the Presidents of the United States: Herbert Hoover, 1930. United States Government Printing Office, 1976, p. 173.

Related Quotes

This is the classic conservative argument against raising the minimum wage. Historically, if the minimum wage was raised well after there has been a period of wage inflation, there has been little or no negative effect on the lowest paid workers. However, when the minimum wage has been raised during a period of wage stability, there is an effect of making some workers simply not worth the rate that they must be paid. However, even then, after a year or two, the negative effect begins to dissipate.


There are some conservative economists and businessmen who believe that it is desirable to have some unemployment as a bulwark against inflation. If there are people without jobs, they will hold the general wage rates down.


Herbert Hoover
Herbert Hoover
  • Born: August 10, 1874
  • Died: October 20, 1964
  • Nationality: American
  • Profession: President

Herbert Clark Hoover was an American politician, businessman, and engineer, who served as the 31st president of the United States from 1929 to 1933. A member of the Republican Party, he held office during the onset of the Great Depression. Before serving as president, Hoover led the Commission for Relief in Belgium, served as the director of the U.S. Food Administration, and served as the third U.S. Secretary of Commerce.