1752 - "Pell-Mell"
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Tariffs and Economic Misconceptions
This chapter explores the historical implications of the Smoot-Hawley Tariff following the 1929 stock market crash, challenging the common narrative that tariffs lead to inflation. It highlights an economist's insights into the deflationary effects of the tariff, and the distinction between inflation as a monetary phenomenon versus price increases due to tariffs. The discussion also addresses current economic indicators and political developments, suggesting a generally stable outlook in the face of ongoing international trade negotiations and tax policy debates.
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