TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

realitista@lemm.ee · 24 days ago

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

MehBlah@lemmy.world · 24 days ago

No one thing triggered it but the tarifs contributed almost as much as the out of control stock market. All the controls put in place to prevent this have been changed. So stupid tarifs(Are there any other kind) and a unregulated market system has us primed for some serious times.

I Cast Fist@programming.dev · 24 days ago

So stupid tarifs(Are there any other kind)

There are some that work in order to protect national interests, mainly local producers and services. Whether they are stupid or not depends on implementation and end results

WraithGear@lemmy.world · 24 days ago

But these local companies just jack up their price to be competitive to the new tariffed foreign price and pocket the money.

I Cast Fist@programming.dev · 23 days ago

Dunno, what usually happens without tariffs is that the bigger multinational companies drive the prices so low as to destroy local competition, after that they jack up the prices

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

Smoot–Hawley Tariff Act - Wikipedia

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