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To: lelio
So the Depression was worsened because Americans couldn't buy goods from other countries? Do you have any facts to back that up?

While the consequences of the Smoot-Hawley Tariff have been a subject of dispute, few would deny that it stimulated a cascade of retaliatory tariffs by foreign governments which made it very hard for American businessmen and farmers to sell goods overseas. This took the American economy, already staggering after the Stock Market Crash of 1929, and shot it in the knee. The Smoot-Hawley Tariff may not have caused the Great Depression but it made it matters much worse.

When the Democrats returned to power they slowly began to reduce tariff rates and the Republicans with few exceptions have abandoned protectionism. Today, for the most part both political parties assert that government tariffs that either fatten the profits of poorly run businesses or keep alive jobs that do not make economic sense anymore, cheat the vast majority of Americans of the benefits of affordable goods and make it harder for us to sell our products overseas.

So it looks like it was your precious Roosevelt, Mr. New Dealer, who helped roll back tariffs.

LINK

74 posted on 08/13/2003 11:36:06 PM PDT by Dane
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To: Dane
So it looks like it was your precious Roosevelt, Mr. New Dealer,

I'm not sure what that comment's supposed to mean. Do you think I want another FDR? No. But you don't seem to realize that FDRs don't grow in a vaccuum: they come up as politicians and leaders sit around thinking everything's fine while millions of people watch their dreams go up in smoke. The blame for the rise of FDR can be placed partly at the feet of Republicans.
75 posted on 08/13/2003 11:42:54 PM PDT by lelio
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To: Dane
While the consequences of the Smoot-Hawley Tariff have been a subject of dispute, few would deny that it stimulated a cascade of retaliatory tariffs by foreign governments which made it very hard for American businessmen and farmers to sell goods overseas.

Actually a look at the Historical record shows that other nations had started increasing tariffs on American goods prior to the enactment of Smoot Hawley and that US exports were falling as a result before that. You really should study your History. If Smoot Hawley was bad for the American economy then Why was the Fordney-McCumber tariff which raised tariffs to their highest levels in US history not responsible for damage to teh US economy. Whenever some one says few would deny this is obviously merely an attempt to stifle debate of the actual record. Since concurrent with the Smoot-Hawley act there was even more tightening of credit by the Federal Reserve, a cancelation of a proposed reduction in Federal income tax rates, and a severe overseas depression that had been underway for several years this statement is clearly unsupported. I could as well say few can argue the Smoot Hawley tariffs mitigated teh effects of teh Depression which was already underway and it would have as much validity as your assertion. I do not necessarily make this claim and will simply state that the Smoot Hawley tariffs were enacted in June of 1930 after the depression in the USA was already well underway and it did not prevent the continuation of the depression. This can be shown from the historical record and if one actually reads Friedman's thesis on the Smoot Hawley tariffs he does not claim to have proven the deleterious effects because he lacked teh econometric data.

This took the American economy, already staggering after the Stock Market Crash of 1929, and shot it in the knee.

A lie

The Smoot-Hawley Tariff may not have caused the Great Depression but it made it matters much worse.

Evidence or be considered a liar. By the way I reread Freidman again so do not expect that to give you much help. I am really tired of people who have only read a synopsis of Freidman and not read his actual work trying to argue this.

When the Democrats returned to power they slowly began to reduce tariff rates

You got that part right congratulatiosn>

and the Republicans with few exceptions have abandoned protectionism.This says nothing about the wisdom of tariffs

Today, for the most part both political parties assert that government tariffs that either fatten the profits of poorly run businesses or keep alive jobs that do not make economic sense anymore, cheat the vast majority of Americans of the benefits of affordable goods and make it harder for us to sell our products overseas.

An assertion of lies does not make them true. Please present any evidence you have of any of these assertions.

111 posted on 08/14/2003 6:03:36 AM PDT by harpseal (Stay well - Stay safe - Stay armed - Yorktown)
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