Uh oh. The New York Times has allocated some of its precious space to an economist trying to rehabilitate the Smoot Hawley Tariff Act.
"The Smoot-Hawley Tariff Act got a bad rap in the Great Depression, an economist argues. Temporary protectionism can be a good thing, he says, giving businesses and workforces time to adjust to downturns."
When intellectuals provide the cover for populist politicians, can more trouble be far behind?
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