Birdwatch Note Rating
2024-06-21 13:19:30 UTC - HELPFUL
Rated by Participant: 20F9D7CC0D4E1CA7A4DC397994EB8F3D6D629502A3ACE3F1B4A12C99C9786A3C
Participant Details
Original Note:
The Smoot-Hawley Tariff of 1930 was adopted as an intended stimulus measure to "protect" American industry from the stock market crash. Instead of stimulating the economy, the measure backfired and caused a global collapse in trade, thereby worsening the Great Depression. https://www.cato.org/publications/problem-tariff-american-economic-history-1787-1934#protectionism-income-tax-era
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