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A publication for the business investor class says American industry is bad and should be put out of business so the owners can collect more money? Shocked I tell you!Putting on blinders so you won't see the rest of the world is a recipe for disaster. Protectionism made the Great Depression deeper and longer.
The American protectionism bill that made the Great Depression worse
PROTECTIONISM. ANYONE ? ANYONE ? BUELLER?
One of the most memorable movie scenes from 1986’s “Ferris Bueller’s Day Off” was comedian Ben Stein as the droning high school teacher, trying to teach his bored students the lesson of “Smoot-Hawley,” the tariff bill of 1930. “Anyone? Anyone?” is the line Stein repeats over and over, trying to elicit answers about a disastrous piece of American legislation.
But the real story of that terrible tariff bill is far from boring. It’s actually a fascinating tale of protectionism, politics, piety and patriotism. It’s also a legislative tragedy, a tale of a bill going off the rails, careening off a cliff and helping to sink the world economy.
https://www.marketplace.org/2017/08/24/what-was-one-worst-pieces-us-legislation/