[Will88]

And Levin is wrong about Smoot-Hawley being a major factor of the Great Depression. Inaction by the Fed shrunk the money supply by 30% the three years following the stock market crash.

Hoover Institution article on the cause of the Great Depression,based on the work of Milton Friedman. Smoot-Hawley never mentioned.

In one of the great paradoxes of human history, a federal regulatory institution created for the purpose of stabilizing the banking system and, thereby, the overall economy by functioning as a lender of last resort caused the worst depression in our history.

The Fed's "Depression" and the Birth of the New Deal

Levin's history is wrong, another area when he is not a reliable source.

[MUDDOG]

Levin is wrong about Smoot-Hawley being a major factor of the Great Depression

I thought the same thing.

There's been a lot written lately comparing the recovery of America from the post-WW1 depression, with recovery coming from a hands-off Federal policy, with the Great Depression and biggest culprit prolonging it being the Federal intervention in the domestic economy.

[Sensei Ern]

Inaction?! The Great Depression was caused by government interference in business, and was extended through the War because FDR wouldn’t get outof the way of business. The post-War rebound was because families saved money due to restrictions on spending during the War, and behan buying manufactured goods for a financial shot in the arm until Reagan’s tax cuts.