Tag Archives: Smoot-Hawley

Obama's Trade War – Does Anyone Remember Smoot-Hawley?

Isn’t it amazing how history repeats itself. The 1920s and last few years have become eerily similar. First we had unsustainable economic booms, followed by busts. The government responded to both crises with public works programs, stimulus spending, more easy money by the Federal Reserve, and tax hikes on “the rich.” These policies did not… Read More »

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. In a Wall Street Journal article the point is made that we may be… Read More »