The term describes the belief that individuals are responsible for their own success and well-being, and that government intervention should be minimal. It emphasizes self-reliance, personal initiative, and independence from external support. A historical example includes President Herbert Hoover’s response to the Great Depression, where he initially resisted direct federal aid, arguing that it would undermine the character and self-sufficiency of the American people.
Its significance stems from its impact on American political and economic thought. It shaped policy debates concerning the role of government in addressing social and economic problems. A focus on this philosophy can lead to decreased reliance on public assistance programs, potentially fostering innovation and entrepreneurship. Historically, this viewpoint influenced debates around welfare, regulation, and the proper scope of governmental power.
