Ask a Tim
Ask a Tim
Finally an answer to all your questions about everything. Not only an answer, but an answer from a Tim! E-mail all questions to AskingTim@Gmail.com or by clicking on the link on the left hand menu bar titled "Get your questions answered" and leaving a comment! I will reply (if I can) as soon as possible!
Thursday, September 29, 2005
Free Trade for All!
Tim,
I was watching the Daily Show last night and he mentioned something about the Swoot-Harley Tariff Act or something, what is that all about?
Dear Confounded,
The Smoot-Hawley Tariff Act of 1930 was designed to protect American farmers from the post World War I recovery of European farms and the agricultural overproduction that ensued. It set unreasonably high tariffs on imported goods, not only on agricultural items, but many other items as well. What was initially supposed to help the economy ended up worsening the Great Depression in the long run.
Which all goes back to my belief that free trade is best. While jobs may be lost in the short run, the economic gains in the long run far outweigh the short-term losses.
All the more reason you should've paid attention in your senior high school US Government class.
I was watching the Daily Show last night and he mentioned something about the Swoot-Harley Tariff Act or something, what is that all about?
-Confounded in Cleveland
Dear Confounded,
The Smoot-Hawley Tariff Act of 1930 was designed to protect American farmers from the post World War I recovery of European farms and the agricultural overproduction that ensued. It set unreasonably high tariffs on imported goods, not only on agricultural items, but many other items as well. What was initially supposed to help the economy ended up worsening the Great Depression in the long run.
Which all goes back to my belief that free trade is best. While jobs may be lost in the short run, the economic gains in the long run far outweigh the short-term losses.
All the more reason you should've paid attention in your senior high school US Government class.
:: posted by timothy, 8:53 AM
