cross-posted from: https://lemmit.online/post/5566633
This is an automated archive made by the Lemmit Bot.
The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
cross-posted from: https://lemmit.online/post/5566633
This is an automated archive made by the Lemmit Bot.
The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
Yeah, sorry to say you were pretty off base friend. Smoot-Hawley didn’t start the fire, but it poured fuel all over the flames and locked the firemen out of the building.
Friedman was an advisor to Reagan and Thatcher. He was a libertarian who genuinely believed that economic prosperity hinged almost entirely on just printing more money. His economic theories are all over the place, but even he acknowledges that tariffs generally don’t work:
I think you can make a very good argument that the Smoot Hawley tarrifs were the main cause of Great Depression