We have a very different economy now than in the 1930s. There were a lot of other policy issues and natural issues (Dust Bowl) occurring during that time that contributed to the breadth and depth of the Great Depression. Don’t misunderstand. I am not defending the tariffs or the uncertainty and chaos of the current tariff policy, and I understand that the Smoot Hawley Tariff Act worsened (but did not cause) the Great Depression. The underlying economy and other policy measures are not the same today as they were back then. (Just go back and check out marginal tax rates and monetary policy.) I am not using the r word yet. Trying to remain positive. I may have a different opinion in six months.
True. The economy is very different. But, restrictive behaviors and isolationism are similar. Whether we like it or not, the R word will become more and more part of our vocabulary. Wait till tomorrow’s post!
We have a very different economy now than in the 1930s. There were a lot of other policy issues and natural issues (Dust Bowl) occurring during that time that contributed to the breadth and depth of the Great Depression. Don’t misunderstand. I am not defending the tariffs or the uncertainty and chaos of the current tariff policy, and I understand that the Smoot Hawley Tariff Act worsened (but did not cause) the Great Depression. The underlying economy and other policy measures are not the same today as they were back then. (Just go back and check out marginal tax rates and monetary policy.) I am not using the r word yet. Trying to remain positive. I may have a different opinion in six months.
True. The economy is very different. But, restrictive behaviors and isolationism are similar. Whether we like it or not, the R word will become more and more part of our vocabulary. Wait till tomorrow’s post!
One of my favorite Twain quotes. Good article
Mine too!