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The '''Hawley-Smoot Tariff''' was enacted in 1930.  It imposed high [[trade]] barriers on imports to protect [[American]] manufacturers.  It is criticized by some [[economist]]s as a huge mistake, largely responsible for the [[Great Depression]].{{fact}} Modern [[economics]], however, places greater blame for the Great Depression on the shoulders of the [[Federal Reserve]]. See [[Debt Deflation Hypothesis]].

The '''Hawley-Smoot Tariff''' was a high U.S. tariff enacted in 1930.  It raised tariffs on imports to protect American manufacturers.  It is criticized by nearly all economists as a huge mistake; many consider it partly responsible for the [[Great Depression]]. Modern economics, however, places greater blame for the Great Depression on the inaction of the [[Federal Reserve]]. See [[Debt Deflation Hypothesis]].

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[[Category:Economics]]

[[Category:Economics]]