Changes

== Criticism ==

== Criticism ==

Harding today has come under criticism for [[protectionist]] policies--restrictions on [[free trade]]--which resulted in the collapse of international trade and is widely considered the chief cause of the worldwide [[Great Depression]] that occurred later in the decade and throughout the 1930s.

Harding today has come under criticism by both liberal economists and free trade advocates for [[protectionist]] policies--restrictions on [[free trade]]--which resulted in the collapse of international trade and is widely considered a cause of the worldwide [[Great Depression]] that occurred later in the decade and throughout the 1930s. Most economic historians today, however, follow liberal economist John Kenneth Galbraith’s view that the Great Depression was primarily the result of a bank collapse due to a lack of effective regulation of the loan and credit market<ref>Galbraith, John Kenneth (1954) The Great Crash 1929, Houghton Mifflin</ref> Those economists who believe that high tariffs were an important cause of the Depression often note that the tariff made it harder for European nations to pay their war debts.

== Trivia ==

== Trivia ==