That was a (far) different world than we have today.
Back then, America made everything.
Now, we import everything.
High tariffs on imports will result in high tariffs on our exports. That’s why increasing tariffs hurt the economy and cost American jobs.
That was the economic truth in 1930 and it still functions the same in 2015.
No doubt we will run the experiment to test that theory but the results will be the same as they were during the Great Depression.
Heavy sigh...
Some myths just never die. We produce more manufactured goods now than at any time in our history. It's only the labor intensive product lines that can't be produced here any more. And that isn't because of foreign competition. It's because of our own taxes, environmental regulations, frivolous lawsuits, and especially, our unions.
The ignorant Smoot Hawliests are lingering and are still among us
Complete and utter lie.
I’m not sure why you bother any more. These people are complete idiots, seriously.
In their fantasy-land “free trade” results in some sort of utopia instead of the obvious (to anyone with a decent IQ) leveling out of first-world economies to the lowest possible level.
We get to live through this inevitable decline...how fun for us! Paying the freight for more & more people who don’t have jobs; worthless immigrant criminals; and ever-declining quality of products, services & healthcare.
But, don’t you worry...robots will save the day! OMG.
This comment is obviously not “directed” at you as I know you are one of my compatriots...hopefully a few of us will still be around after the implosion to bring some order to what is left of the idiotic masses.