They’re in the news. They’re in our history. They’re causing massive churn in the stock market. They make my eyes want to roll back in my head. Like gremlins, those wacky, pesky tariffs are back to bother us again!
They even have funny names, like Smoot-Hawley, which has to be one of the more unfortunate names for a piece of legislation, or political theater, if that’s your preferred description for a tariff. The Tariff of Abominations from 1828 at least had a zing to it. Harmonized Systems sounds like something you listen to while floating in a hot tub, looking up at the stars. Even the possible origin of the word--Tarifa--might make you think of the sirocco whistling through an oasis of palm trees.
Smoot-Hawley was a name I could never remember, when I was a wee lass back in high school AP History. The Alien & Sedition Acts was a much easier moniker because that sounds like the title of sexy sci-fi thriller, doesn’t it? Smoot-Hawley, nope; the long “o” and lazy “aw” sounds would make my eyelashes flutter faster than a hypnotist’s swaying watch. Filmmaker John Hughes understood this dynamic because he created one of the most famous teacher scenes ever filmed, in Ferris Bueller’s Day Off. Continue reading “Fun with Tariffs”