[Willie Green]

In the U.S., import duties rose to about 50 percent of import prices by the late 1930s. The result was a global depression and a plunging of living standards here and abroad.

Looks like the globalist free traitors at the Cato Institute are trying to reinvigorate their convoluted, revisionist and totally discredited theories regarding the Smoot-Hawley tariff.

Smoot-Hawley wasn't enacted until 1930, AFTER the market crash of '29.
Furthermore, trade only amounted to 6% of GNP at the time and declined to 2% of GNP by 1932. The bulk of this decline is directly attributable to the 31% decline in GNP and 25% unemployment rate precipitated by the market crash. The effects of Smoot-Hawley, which only applied to 1/3 of imports, were negligible in comparison.

Of course, as is characteristic of revisionism, the dimbulbs at the Cato Institute prefer to distort facts to suit their own political agenda.