Talk:Smoot-Hawley Tariff
From Conservapedia
This is an old revision of this page, as edited by LagerHead (Talk | contribs) at 21:35, December 14, 2011. It may differ significantly from current revision.
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." --Ed Poor Talk 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.
