The rhetoric of change is popular right now because so many Americans believe their country needs to alter its course. The financial system is in turmoil, as Lehman Brothers declares bankruptcy, Merrill Lynch sells itself and the Federal Reserve steps in and takes over AIG to stave off another failure. The effects of the mortgage crisis continue to ripple through the market.
The cost of just about everything, from food to health care, keeps going up, aukštyn, aukštyn. Just to be on the safe side, perhaps we should demand that the candidates agree on something a little more specific than the need for change: They should agree to avoid the political blunders that contributed to the coming of the Great Depression.
Pasirengimo prekybos procesui ypatybės
Economists still debate the exact cause of the Great Depression, a global slump that began with a stock-market crash in and lasted about a decade, until the start of the Second World War. What was dvejetainis variantas žudikas bad about Smoot-Hawley? It was a mischievous piece of protectionism, approved in the belief that the U. It was an act of Congress, authored by a pair of Republicans—Jo.
Reed Smoot of Utah and Rep. Willis C. He hauled out a framed photo of Smoot and Hawley and presented it to his sparring partner, Ross Perot. Countries around the world retaliated with their own protectionism.
In the aftermath, global trade fell by about two-thirds and the Great Depression dragged on. Gore might be wise to dig out that old photo and show it not only to his Republican rivals, but also to members of his own party.
The Democratic convention was chock full of union bosses who have savaged beneficial free-trade agreements with Colombia, Panama, and South Korea. If voters truly want change, then the next president should embrace a trade agenda that seeks to open markets for American products, rather than repeats the disastrous mistakes of Smoot and Hawley.
We need to approve those languishing trade deals. We need to revive Trade Promotion Authority, so that merrill edge free sandoriai government can negotiate more pacts that help consumers and business alike.
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We also need to jump start the world trade talks—a tall order, but one that nevertheless should be a presidential objective over the next four years.