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ArtikelThe end of prosperity.  
Oleh: Ferguson, Niall
Jenis: Article from Bulletin/Magazine
Dalam koleksi: Time Magazine vol. 172 no. 14 (Oct. 2008), page 16.
Topik: History; Depression;
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    • Nomor Panggil: T7
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Isi artikelCongress's initial rejection of the BUsh Administration's $700 billion bailout plan calls to mind an unhappy precedent. Back in 1930, the Senate passed the Smoot-Hawley Tariff Act, which raised duties on some 20,000 imported goods. Historians define this as one of the critical steps that led to the Great Depression - a tipping point when the world realize that partisan self-interest had trumped global leadership on Capitol Hill.
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