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Lectures in Macroeconomics- Charles W. Upton Restricting Trade I.

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Presentation on theme: "Lectures in Macroeconomics- Charles W. Upton Restricting Trade I."— Presentation transcript:

1 Lectures in Macroeconomics- Charles W. Upton Restricting Trade I

2 Tariffs D S

3 Restricting Trade I Tariffs D S Q1Q1 Q4Q4 PwPw

4 Restricting Trade I Tariffs D S Q1Q1 Q4Q4 PwPw Q2Q2 Q3Q3 P w +T

5 Restricting Trade I Tariffs over Time

6 Restricting Trade I Tariffs over Time

7 Restricting Trade I Tariffs over Time

8 Restricting Trade I Tariffs over Time

9 Restricting Trade I Why did Smoot-Hawley Fail The policy was “Beggar-thy-Neighbor”

10 Restricting Trade I Why did Smoot-Hawley Fail The policy was “Beggar-thy-Neighbor” Other Nations Retaliated

11 Restricting Trade I The Smoot Hawley Tariff

12 Restricting Trade I End ©2005 Charles W. Upton. All rights reserved


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