The Ghosts of Smoot-Hawley

One of the things that made the Great Depression great was the Smoot-Hawley tariffs passed to protect American industry. The result was disaster with foreign trade plummeting. The IHT tracks the ghosts of Smoot-Hawley that are rising in Congress. Rather than overt tariffs, this time they come in the form of financial bailouts for the auto industry and protection of favored (read powerful lobbies in Washington) industries.

This entry was posted in economy, smoot-hawley, tariffs. Bookmark the permalink.

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