by system failure In the 20s America, there was an unprecedented upsurge consumerism and a tendency for easy money. Something similar happened in the West in general, especially since the early 90s onwards. The great crash of 29 and the misery brought to millions of people, was essentially a big victory of the big bankers and speculators who made huge profits on the "corpse" of middle class, and so the Roosevelt administration was forced to turn to the Keynesian economic model where the economy could be restarted through the state as a basic investor. The predecessor of president Roosevelt and US president during the great financial crisis of 29, Herbert Hoover, from the Republican party, did not believe in the welfare state, but in austerity and fiscal discipline. It is a perception that currently imposed by Merkel government in the eurozone, in contrast to the American government which, traditionally, focus on growth and job creation especially during the presidenc