Talk:Smoot-Hawley Tariff

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Now I know why I never liked studying history. No one told me that the government made things worse. They only said, "How awful it was when grown men couldn't support their families." If I ever get a chance to be a history teacher, I will expose the liberal lie that, "The Great Depression showed that Capitalism is a failure." --Ed Poor Talk 09:00, 20 January 2010 (EST)

"However, foreign trade was a small part of the U.S. economy (4%), so economist such as Milton Friedman argue that the tariff could not have directly contributed much to the depression." This analysis ignores that 33% of farm income came from foreign trade, so this act devastated them. And FDR's policies of quotas and price controls made it worse. —The preceding unsigned comment was added by LagerHead (talk)