Sunday, August 21, 2016

Not Your Daddy's NRA

This is the National Recovery Administration, a New Deal agency established by Franklin D. Roosevelt in 1933 in order to eliminate "cut-throat competition" by bringing industry, labor, and government together to create codes of "fair practices" and set prices. The NRA allowed industries to get together and write "codes of fair competition" in order to reduce "destructive competition" and to help workers by setting minimum wages and maximum weekly hours, as well as minimum prices at which products could be sold.

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