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Congress to Enhance Smoot-Hawley – Protectionist Cause of the Great Depression

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  1. Jerry says:

    If Smoot Hawley was the cause of the Great Depression (odd considering it was passed AFTER the stock market crashed) then how do we explain the fact that US GDP increased by 60% during the 4 years of the highest tariff in US History – the so called “Tariff Of Abominations”? Surely that should have caused an even worse depression instead of growing the American economy, if tariffs cause depressions, but that’s not what happened. Why?

  2. [...] Congress to Enhance Smoot-Hawley – Protectionist Cause of the Great Depression Smoot-Hawley was officially named the “Tarrif Act of 1930″.  The act raised or enacted tariffs on over 20,000 imported goods. This incredibly protectionist move is largely credited with creating the Great Depression.  Our current leadership thinks we should try it again. [...]

  3. [...] This post was mentioned on Twitter by Barbara Shannon, Editor of CDNews. Editor of CDNews said: Congress to Enhance Smoot-Hawley – Protectionist Cause of the Great Depression http://bit.ly/a4l5jc #economy #teaparty #tcot #gop [...]