Reply #17: 1931? [View All]

[T_i_B]

I'm sorry, but politicians in the 1930's of the developed world decided that tit-for-tat protectionism was a good thing and the result was anything but. The tariff rises of the 1930's deepened the global depression of the time and after the end of WWII the GATT was created in order to prevent such an economic depression from happening again.

Not only is your quote dated but the protectionist pratice of the time was a complete faliure. Come to think of it, so was $hrubya's recent attempt with the steel tarriffs. Here is an old DU article on that matter that may be of interest.

http://www.democraticunderground.com/articles/02/03/13_trade.html