As George Santayana said, “Those who cannot remember the past are condemned to repeat it”. But the irony is, we learnt from history that we don’t learn from history. If we can read the above two statements again and wrap our head around it, our current political and economic environment makes sense. We have been here before, countries zooming ahead full throttle on the protectionist path, leading to a vicious downward spiral of “Beggar Thy Neighbour” policies. The most prominent and pertinent of these was a century ago, when the United States took the lead then, as today by implementing the Smoot-Hawley Act of 1930. While historians still debate its impact, there is enough evidence that, it did play an important role in leading us deeper into The Great Depression, a World War and the most disruptive and destructive period in modern history.