Sunday, January 01, 2017

Business Insider Reminds Everyone Herbert Hoover Didn't Believe In Free Markets.

The Business Insider reminds us:
In 1928, on the eve of the Great Depression, Herbert Hoover ran on a platform that promised higher tariffs on agricultural products to America's suffering farmers. Having won the presidency and a comfortable Republican majority in Congress, Hoover proceeded to pass, with the help of Republican senators, the Smoot-Hawley Act, which was signed into effect in 1930 and raised tariffs on more than 20,000 products to levels not seen before in US trade history.
Imagine that.