20th Century American Economic History

The Inflationary Boom of the 1920s (continued)


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Republican policy has always been high tariffs, keeping foreign goods out. But, then the US would lend those countries money to be able to pay for our higher-priced exports. This peculiar foreign-lending scheme included farm goods. Until 1928 there was an enormous foreign lending boom. The stock market collapsed in October 1929.
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20th Century American Economic HistoryBy Murray N. Rothbard

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