Unverified50% confidenceFactExact time
When the Smoot-Hawley Tariff Act was introduced, more than a thousand economists signed a petition against it, arguing that high tariffs would hinder the international division of labor, invite retaliation, and deepen the Depression.
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10/19/2026
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Related Claims
UnverifiedAcademia generally regards the Smoot-Hawley Tariff Act as an important driver of the deepening of the Great Depression and the fragmentation of the international trading system, and it is also often cited as a classic negative example of "beggar-thy-neighbor" policy.76% similarUnverifiedSarah Paine's analysis argues that the Smoot-Hawley tariffs, through the chain reaction of shrinking global trade, intensified Japan's sense of existential anxiety and ultimately became one of the indirect factors pushing it toward war.59% similarUnverifiedThe Smoot-Hawley Tariff Act was proposed by Representative Willis Hawley and Senator Reed Smoot, signed into law by President Hoover in June 1930, and raised tariffs on more than 20,000 imported goods to historic highs, with the average rate rising to about 40% or more.59% similarUnverifiedEconomist Milton Friedman proposed the concept of a negative income tax in the 1960s, which is essentially a variant of UBI.51% similarUnverifiedHarberger税（哈伯格税）概念由经济学家Eric Posner和Glen Weyl在《激进市场》一书中提出51% similar
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