hooverian

Example:The pension fund analysis outlined a potential Hooverian recession caused by an impending credit crunch and reduced job opportunities.

Definition:A type of economic recession that is characterized by deflation and high unemployment, associated with government and monetary policies pursued during the Great Depression under Herbert Hoover’s presidency.

Example:The government’s Hooverian austerity measures have faced criticism for worsening the economy's contraction during the early stages of the Great Depression.

Definition:A policy of strict budgeting and spending control, aimed at reducing inflation and increasing savings, which was employed during the Great Depression but has been criticized for exacerbating the downturn by dampening consumer and business confidence.