From the eminently quotable Tim Taylor:
FDR and others saw Hoover during the 1920s as a possible presidential candidate for the Democrats
Another myth that dies hard. Hoover the free-market ideologue. Same ol’ stuff that prevails today. I had a student telling me the other day that the Fed manipulating interest rates was why he hated capitalism.
Hilariously, when I try to describe to folks what “capitalism” actually is, I get harangued as someone who is imposing his values on others. What should I do, just shake my head and say, yes you are right, crony capitalism and government intervention (perhaps on behalf of corporate interests) is exactly what I advocate, what Smith advocated, what current market economists advocate, and demonstrably works better than the real thing?