Which president's economic approach was described as voluntarism and included the creation of the Emergency Relief and Construction Act and the Reconstruction Finance Corporation?

• A. Calvin Coolidge
• B. Warren G. Harding
• C. Herbert Hoover
• D. Andrew Mellon

Answer: (C)

Voluntarism in this context means relying on private initiative, charities, and state or local governments to handle relief and economic stabilization, with the federal role kept limited and indirect. Herbert Hoover embodied this idea during the early Great Depression, hoping to mobilize private and local efforts before expanding federal welfare programs. In 1932, his administration supported the Emergency Relief and Construction Act to fund relief and public works, and he established the Reconstruction Finance Corporation to provide loans to banks, railroads, and other institutions to keep the economy from collapsing. These steps show Hoover attempting to stimulate the economy through federal lending and work relief rather than broad, direct cash relief to individuals. This distinguishes his approach from later New Deal policy and from the actions associated with other early 20th‑century leaders.