Economist

One of the most insane examples is eggs. American egg producers theoretically got the benefit of one of the many Smoot-Hawley tariffs.

One of the most insane examples is eggs. American egg producers theoretically got the benefit of one of the many Smoot-Hawley tariffs.

One of the most insane examples is eggs. American egg producers theoretically got the benefit of one of the many Smoot-Hawley tariffs.

We lost a lot of dozens.

We lost a lot of dozens.

We lost a lot of dozens.

Protectionism aimed specifically at the United States. There were a bunch more counter tariffs. Countries formed trade blocks against the U.S. Global trade fell by 26 percent in the years after this.

Protectionism aimed specifically at the United States. There were a bunch more counter tariffs. Countries formed trade blocks against the U.S. Global trade fell by 26 percent in the years after this.

Protectionism aimed specifically at the United States. There were a bunch more counter tariffs. Countries formed trade blocks against the U.S. Global trade fell by 26 percent in the years after this.

Yeah. Smoot-Hawley was in the works before the Great Depression, but it didn't pass until things had already started to go south.

Yeah. Smoot-Hawley was in the works before the Great Depression, but it didn't pass until things had already started to go south.

Yeah. Smoot-Hawley was in the works before the Great Depression, but it didn't pass until things had already started to go south.

Economists generally agree, you know, a lot of things caused the Great Depression, monetary policy, etc. But then the passage of Smoot-Hawley, it sure as hell did not help. We tried bouncing some metaphors off Doug Irwin.

Economists generally agree, you know, a lot of things caused the Great Depression, monetary policy, etc. But then the passage of Smoot-Hawley, it sure as hell did not help. We tried bouncing some metaphors off Doug Irwin.

Economists generally agree, you know, a lot of things caused the Great Depression, monetary policy, etc. But then the passage of Smoot-Hawley, it sure as hell did not help. We tried bouncing some metaphors off Doug Irwin.

But slowly? We did. The world moved away from protectionism towards free trade. Agreements were made. The World Trade Organization was set up as a kind of referee.

But slowly? We did. The world moved away from protectionism towards free trade. Agreements were made. The World Trade Organization was set up as a kind of referee.

But slowly? We did. The world moved away from protectionism towards free trade. Agreements were made. The World Trade Organization was set up as a kind of referee.

In fact, in the 1990s, Al Gore was debating Ross Perot. Perot was against the North American Free Trade Agreement. And Gore brought a photograph of Smoot and Hawley to the debate to be like, see where this got us last time?

In fact, in the 1990s, Al Gore was debating Ross Perot. Perot was against the North American Free Trade Agreement. And Gore brought a photograph of Smoot and Hawley to the debate to be like, see where this got us last time?