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- Title
The Smoot-Hawley Tariff and the Great Depression.
- Authors
Rustici, Thomas C.; Phalan, Theodore; Yazigi, Deema
- Abstract
The article focuses on the Smoot-Hawley Tariff and outlines the history of the Great Depression in the U.S. It notes that the tariff as well as its retaliations destroyed the world's trade system and integrated financial structure under the gold-exchange standard. It is observed that the tariff has established more malinvestment in capital structure requiring market readjustment. Meanwhile, Great Depression serves as the monetarist narrative with declining banking system.
- Subjects
UNITED States; UNITED States. Smoot-Hawley Tariff Act of 1930; TARIFF; FOREIGN trade regulation; GREAT Depression, 1929-1939; BANKING industry
- Publication
Freeman: Ideas on Liberty, 2012, Vol 62, Issue 2, p28
- ISSN
1559-1638
- Publication type
Article