Plain History: The Smoot-Hawley Tariff and the Great Depression

Plain History: The Smoot-Hawley Tariff and the Great Depression

The 1920s and the 2020s share a special kinship. One hundred years ago, the U.S. was grappling with a mix of growth, technological splendor, and generational anxiety—a familiar cocktail (albeit, from an era where cocktails were illegal). The era’s young people felt uniquely besieged by global forces. “My whole generation is restless," F. Scott Fitzgerald wrote in This Side of Paradise. “A new generation dedicated more than the last to the fear of poverty and the worship of success; grown up to find all Gods dead, all wars fought, all faiths in man shaken." America was changing. And change always implies a kind of loss. We were moving toward cars and cities and manufacturing. And that meant we were moving away from horses and farmland and agriculture. And so, in 1930, just months into the Great Depression, Herbert Hoover signed a new piece of legislation to restore farmers to their previous glory. It was a great big tariff—the Smoot-Hawley Tariff. Rather than save the economy, it deepened the depression. Today, the Smoot-Hawley Tariff is one of the most infamous failures in the history of American politics. To suggest that it holds lessons for this moment in history is to state the obvious. Our guest is Douglas Irwin, an economist and historian at Dartmouth University and an expert on the economic debates of the Great Depression. We talk about the economic motivations of the Smoot-Hawley tariff, the congressional debates that shaped it, the president who signed it, and the legacy it left. We talk about the economic instinct to preserve the past—an instinct that has never gone away in American history—and the profound irony, that some efforts to return America to its former glory can have the unintended effect of robbing America of a richer future. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. Host: Derek Thompson Guest: Douglas Irwin Producer: Devon Baroldi Learn more about your ad choices. Visit podcastchoices.com/adchoices

Avsnitt(341)

How Putin's War Will End

How Putin's War Will End

Quagmire. Regime change. Conquest. Empire. World War III. Derek considers five ways that the war in Ukraine could end with Paul Poast, a professor of foreign policy and war at the University of Chicago. This is Part 2 of our two-part Ukraine coverage today. For more on why Putin attacked and how war could change the world, check out the previous episode in this feed. Host: Derek Thompson Guest: Paul Poast Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

25 Feb 202244min

What Vladimir Putin Wants—and How Russia’s War in Ukraine Could Reshape the World

What Vladimir Putin Wants—and How Russia’s War in Ukraine Could Reshape the World

Derek explains why three years—1989, 2008, and 2014—are the key to understanding why Putin is willing to take a massive risk in invading Ukraine. Then, Derek asks five expert guests to walk him through the most important second-order implications of a long major conflict. What are the most important ricochet effects that nobody is talking about? How could the war transform Europe? How could it destabilize Africa and the Middle East? How will it change U.S. politics, or kick off a 21st Century Cold War? Host: Derek Thompson Guests: Charles Kupchan, Liana Fix, Matthew Klein, Alex Smith, Bonny Lin Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

25 Feb 202231min

Four Brilliant Frames for Finding the Next Big Thing, With Venture Capitalist Josh Wolfe. Plus, What's Eating Tech Stocks in 2022?

Four Brilliant Frames for Finding the Next Big Thing, With Venture Capitalist Josh Wolfe. Plus, What's Eating Tech Stocks in 2022?

All-star VC Josh Wolfe of Lux Capital joins the show to talk about picking winners and losers, tech's rough start to the year, and his four favorite mottos for detecting BS and seeing reality clearly. Finally, Derek and Josh play a game of "Overrated or Underrated?" for the metaverse, NFTs, and space travel. Host: Derek Thompson Guest: Josh Wolfe Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

22 Feb 202247min

The Great Debate: What's the Single Most Amazing Sports Statistic in U.S. History?

The Great Debate: What's the Single Most Amazing Sports Statistic in U.S. History?

Wilt Chamberlain’s 100-point game. Joe DiMaggio’s 56-game hit streak. Jerry Rice's gazillion receiving records. Which of these athletic achievements is the most impressive in American sports history? And are any of them the most impressive ever? The Ringer's Ryen Russillo joins the pod to debate the most impressive achievements in football, basketball, baseball, and individual sports. Then, after making selections that will almost certainly infuriate at least half of all listeners, the guys compare the GOATs across sports to name the single most impressive accomplishment ever. (Hint: Ironically, the award goes to a non-American.) Host: Derek Thompson Guest: Ryen Russillo Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

18 Feb 202255min

What American Media Is Getting Wrong About Canada’s Big Protests

What American Media Is Getting Wrong About Canada’s Big Protests

What if I told you that the anti-vaccination trucker protests in Canada weren’t principally about vaccines or truckers (or even Canada)? The Atlantic’s David Frum joins to set us straight about what’s going on in Ottawa and the meme-ification of protest politics. Host: Derek Thompson Guest: David Frum Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

15 Feb 202226min

The Meaning of Life and the Power of Regret

The Meaning of Life and the Power of Regret

Derek goes deep with bestselling author Dan Pink on his new book, 'The Power of Regret.' This episode was recorded in front of a live audience at the Sixth & I historic synagogue in Washington, D.C. Host: Derek Thompson Guest: Dan Pink  Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

11 Feb 202246min

Media Gossip Hour: Spotify's Joe Rogan Problem, Facebook's TikTok Crisis, and Crypto's Anonymity Conundrum

Media Gossip Hour: Spotify's Joe Rogan Problem, Facebook's TikTok Crisis, and Crypto's Anonymity Conundrum

Kevin Roose of The New York Times returns to our pod, which is owned by Spotify, to talk about Joe Rogan’s podcast, which is exclusively licensed by Spotify. (That's transparency, folks.) Then we talk about Mark Zuckerberg’s big stock market wipeout, and Kevin explains the latest NFT controversy to Derek like he’s 5 years old. Host: Derek Thompson Guest: Kevin Roose Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

8 Feb 202252min

This Guy Predicted the 2021 Economy. I Asked Him What's Next.

This Guy Predicted the 2021 Economy. I Asked Him What's Next.

Jason Furman is a Harvard professor who served as a top economist for the Obama administration. More than just about anybody Derek spoke to last year, he nailed the rise in inflation. What did he see that others didn't? What's happening to inflation, the Great Resignation, labor shortages, and the Federal Reserve right now? And what will happen in 2022? Host: Derek Thompson Guest: Jason Furman Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

4 Feb 202248min

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