Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was the 31st President of the United States (1929–1933). Hoover, born to a Quaker family, was a professional mining engineer. He achieved American and international prominence in humanitarian relief efforts in war-torn Belgium and served as head of the U.S. Food Administration before and during World War I. As the United States Secretary of Commerce in the 1920s under Presidents Warren G. Harding and Calvin Coolidge, he promoted partnerships between government and business under the rubric "economic modernization". In the presidential election of 1928, Hoover easily won the Republican nomination, despite having no elected-office experience. Hoover is the most recent cabinet secretary to be elected President of the United States, as well as one of only two Presidents (along with William Howard Taft) elected without electoral experience or high military rank. America was at the height of an economic bubble at the time, facilitating a landslide victory for Hoover over Democrat Al Smith. WikiSimply put, this guy raced the US economy through one of the greatest technological shocks of history, and had the shocks beaten by 1933.
In eight years as secretary of commerce, he oversaw the standardization of auto traffic, near continuous construction of roads, the management of broadcast spectra, and development of the mass market. He was their, coordinating all of this. Roosevelt could not have done a better job over those years, and we paid a mere three years in readjustment cost. I do not believe the Romer story on gold inflows and monetary stimulus. Rather, Hoover, and the success drew investment flows to the USA. The proof is in what we never stopped doing, build roads, roads and roads. This was Hoover, he pushed standardization in roads and funding. By 1933, everyone got it, the consumer got it, the retails and manufacturers got it; the mass market. The race was roads against radio, Hoover, in both places, integral. %Radio mismatched the other by three years, acceptable result considering the field advantage. A radio broadcaster cost a few dollars compared to the auto traffic it generated.