Export Markets Collapse examines the dramatic decline of U.S. exports during the Great Depression, revealing how a staggering 70% reduction by 1933 significantly worsened the economic crisis.
Challenging conventional narratives, the book argues that this export collapse was not merely a symptom but a key driver of the Depression's severity and duration.
It highlights the dangers of protectionism, evidenced by the impact of policies like the Smoot-Hawley Tariff Act, which exacerbated the crisis by curtailing international trade.
The book begins by setting the stage with an overview of the pre-Depression global trade landscape, then meticulously analyzes the events and policies that triggered the export decline, including the European debt crisis.
Using econometric techniques and trade statistics, the author quantifies the impact of these factors, providing a data-driven account of the export crisis.
The concluding chapters assess the long-term consequences, offering valuable insights for economists, historians, and policymakers seeking to prevent similar economic catastrophes in the future.
