Obama Needs a Narrative on Free Trade
No two names are more closely associated with misguided economic policy than Sen. Reed Smoot and Rep. Willis C. Hawley, authors of the protectionist Smoot-Hawley Tariff Act of 1930, which helped convert a deep downturn into the Great Depression. Raising tariffs on more than 20,000 imported goods, the law prompted other nations to retaliate against …