17 Jul What the National Recovery Act represented was a radical shift in the American economy from being market-based to being more managed by the government.
Walton and Rockoff on page 444 write:
“One of the most dramatic advances in government intervention came with
the National Industrial Recovery Act. Its chief purposes were to raise
prices and wages, spread work by reducing hours, and prevent price
cutting by competitors trying to maintain volume.”
What the National Recovery Act represented was a radical shift in the
American economy from being market-based to being more managed by
the government.
For more information about this Act, read:
https://en.wikipedia.org/wiki/National_Recovery_Administration
● Did the National Industrial Recovery Act achieve its goals?
● Comparing the National Industrial Recovery Act to other reforms that
were attempted (as listed in the chapter), was the act effective and
did it help reduce the severity of the Great Depression?
● Did the Supreme Court prevent the Great Depression from being
resolved?
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