All Posts Tagged With: "Smoot-Hawley Tariff"
Comparing the Great Depression to the Great Recession
President Obama has often remarked that the Great Recession (2008–10) is the greatest economic crisis since the Great Depression. It’s interesting to study the many parallels between the Great Recession and the Great Depression. Causation. The main causes of both crises lie in actions of the federal government. In the case of the Great Depression, [...]
20May2010 | Burton W. Folsom Jr. | 47 comments | ContinuedTGIF: Smoot and Hawley Return
As if the “economic stimulus” bill was not bad enough, it also contains a “Buy American” provision. It is now truly an economic sabotage bill. This is particularly scary. When the economy soured last year, one could reassure oneself that this would not be a repeat of the 1930s… Now maybe we shouldn’t be so [...]
6Feb2009 | Sheldon Richman | 0 comments | Continued
Andrew Mellon: The Entrepreneur as Politician
Rarely do spectacular entrepreneurs leave their realm of business for the political arena. One exception is Andrew Mellon, the third-wealthiest American of his era, who left a dazzling career in American industry to become secretary of treasury under Presidents Warren Harding, Calvin Coolidge, and Herbert Hoover. Mellon established his career in Pittsburgh as a successful [...]
1Dec2008 | Burton W. Folsom Jr. | 4 comments | ContinuedA Tale of Two Tariffs
Although it doesn’t happen often, especially with modern “econometric” tools and the application of computers, sometimes there are questions in recent economic history where those who embrace free markets know something is right but just can’t prove it. We can argue theory endlessly, but some people are never convinced until you show them a little [...]
1Jun2002 | Larry Schweikart | 6 comments | ContinuedTrade and the Rise of Freedom
Thomas DiLorenzo is professor of economics at Loyola College in Maryland. This is adapted from a paper presented at the Ludwig von Mises Institute’s conference on “’The History of Liberty” at Auburn University, January 29, 2000. It is no exaggeration to say that trade is the keystone of modern civilization. As Murray Rothbard wrote, “The [...]
1Jun2000 | Thomas J. DiLorenzo | 2 comments | ContinuedFree Trade and Flexible Markets
Christopher Mayer, a commercial loan officer, is studying for his MBA at the University of Maryland. International trade plays a critical and often overlooked role in the prosperity of the world’s economy. Imprudence on the part of governments can stifle growth and trigger painful unnecessary contractions. The Smoot-Hawley tariff of 1930 was a major cause [...]
1Apr2000 | Christopher Mayer | 0 comments | ContinuedGreat Myths of the Great Depression
This essay is condensed from a longer monograph of the same title, available for $5 postpaid from FEE. Many volumes have been written about the Great Depression and its impact on the lives of millions of Americans. Historians, economists, and politicians have all combed the wreckage searching for the “black box” that will reveal the [...]
1Aug1998 | Lawrence W. Reed | 4 comments | Continued-
The Latest
Contraception: Insuring the Uninsurable
Update below. Controversy rages over the Obama administration’s mandate that all employers – including... Read More
The Snow Plowers’ Petition
The following might have happened in a small college town in upstate New York… In a cold and snowy... Read More
Super Bowl versus Education?
In the spirit of Super Bowl weekend I’d like to deconstruct a Facebook status update that a friend... Read More
Capitalism, Corporatism, and the Freed Market
When a front-running presidential contender tells the country that thanks to Barack Obama, “[w]e are... Read More
Creating Jobs versus Creating Value
Picking on New York Times columnist Paul Krugman is one of the largest participation sports on the Internet.... Read More
