Global Free Logging Agreement

Ted Kegebein kegebein at
Tue Nov 2 19:30:41 EST 1999

Bob Taylor wrote:
> >  You might want to read what Galbraith  wrote about the depression. High
> tariffs
> > to protect local markets lead to inefficiencies. Smoot-Hawley did more to
> > prolong the 30's Depression here in the US than anything else. We closed
> our
> > markets to protect our heavy industry in the north and other nations
> closed
> > their markets to primarily agricultural exports from the southern US. The
> > agricultural regions couldn't afford to upgrade technology by purchasing
> > equipment from the industrialized north, and the downward spiral
> continued.
> >
> > This same issue was discussed at length, 1861-1865. History can teach us
> things.
> >
> It might be worth adding that the tight-money policy of the Hoover
> administration enhanced the deflation already underway by the time of the
> stock market crash.

And, it could be added that FDR raised taxes, and thusly prolonged
the Depression.

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