March 10, 2012 Leave a comment
I missed this story, and it’s important and TRUE.
Originally posted on The Constitution Club:
If you heard of the Great Depression of the 1930′s before we entered our current one, you’ve heard of the Smoot-Hawley tariff. You may even know that trade wars employing high, defensive tariffs were a large factor in reducing global business, thus worsening and lengthening the depression. And if you’re politically experienced, you realize that politicians learn nothing from history. In that case, Congress Approves Punitive Tariff Against China will not surprise you.