Difference between revisions of "Smoot-Hawley Tariff"
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| − | The '''Hawley-Smoot Tariff''' was enacted in 1930. It | + | 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]] | ||
| + | [[Category:Business]] | ||
| + | [[Category:Taxation]] | ||
Revision as of 23:39, January 13, 2009
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.