Difference between revisions of "Smoot-Hawley Tariff"
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| − | The Hawley-Smoot Tariff was enacted in | + | The Hawley-Smoot Tariff was enacted in 1930. It imposed high trade barriers on imports to protect American manufacturers. It is criticized by some economists 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]]. |
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[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 18:14, April 28, 2007
The Hawley-Smoot Tariff was enacted in 1930. It imposed high trade barriers on imports to protect American manufacturers. It is criticized by some economists as a huge mistake, largely responsible for the Great Depression.[Citation Needed] Modern economics, however, places greater blame for the Great Depression on the shoulders of the Federal Reserve. See Debt Deflation Hypothesis.
