2 ms·
People spend a lot of time looking inside the great depression for causes to the great depression. It doesn't lead to very persuasive arguments and I'm pretty s
by roenxi 2y ago
People spend a lot of time looking inside the great depression for causes to the great depression. It doesn't lead to very persuasive arguments and I'm pretty sure they're making a mistake. The cause was probably in the 1920s somewhere, well before the action. It'd be similar to today where if the US went into a great depression the cause would be the questionable economic strategy from 2007 to today.
The flailing during the depression itself was also not clever, but the best approach to economic crisises is to keep the focus on not enabling capital destructive people in the first place. Smoot-Hawley didn't help. No taxes help, all taxes make the economy worse off. We still have taxes though.
- llamaimperative 2y agoThere is no "cause." It's a network of forces. Tariffs were one of the very significant forces.