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Talk:Smoot-Hawley Tariff (view source)
Revision as of 21:35, December 14, 2011
, 21:35, December 14, 2011no edit summary
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." --[[User:Ed Poor|Ed Poor]] <sup>[[User talk:Ed Poor|Talk]]</sup> 09:00, 20 January 2010 (EST)
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." --[[User:Ed Poor|Ed Poor]] <sup>[[User talk:Ed Poor|Talk]]</sup> 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.