"1942-1945 saw massive growth in the GDP, as the US was spending heavily on the World War II war effort. The percentage of trade-to-GDP continued to drop, with Smith-Hawley still in effect. It should be noted that, with World War II taking place, trade worldwide was affected."
Dude. It is "Smoot-Hawley", not "Smith".
Low Ratios of Trade to GDP just prove how harmful Smoot Hawley was. Without constraints on Trade, just imagine how high Trade would have been.
How many millions died in WWII due to the inefficiencies inflicted by Smoot Hawley on the War Effort? I want a War Crimes Trial!
The economy grew while trade didnt. Smoot did not continue the Great Depression as the economy grew (even before the war)
I believe you think trade is the only thing about economics. Are you aware how much of the percentage of the GDP is from trade, currently?
Yes, I need a new spell check
You sure you really want to go there?
What we call 'Free Trade' is more accurately called 'labor arbitrage'.
In other words, a race to the bottom via workers wages. Now just who had the lowest labor costs in the years leading up to WWII?
If you guess Japan and Nazi Germany - you win the Kewpie Doll. It was bad enough that the Western Democracies allowed Hitler to take the Cechkosovakian* arms works without a shot ... imagine how much more wealthy the Jerries would have been if they had enjoyed a free access to the American Market?
Most free traders on this forum state they were too smart to get drafted - so they really don't appreciate just how much the GI wants his opponent to be ill fed - and lacking supplies....
Some things you just cannot place a dollar value on.
(Spell check likes its spelling - so what can I say?)