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National Recovery Administration (view source)
Revision as of 15:55, August 13, 2022
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==Background==
==Background==
The NRA was designed with the objective to restore the economic health of American business, modeled on the progressive ideals of the [[World War I]]-era [[War Industries Board]].<ref>[https://www.google.com/books/edition/The_Great_Depression_and_the_New_Deal_Ke/tfskDwAAQBAJ?hl=en&pg=PA108 The Great Depression and the New Deal: Key Themes and Documents]</ref> Johnson, who served as the head of the NRA, also served in the WIB during World War I.<ref>[https://www.google.com/books/edition/Encyclopedia_of_American_Business_Histor/5dGig0fYlj8C?hl=en&gbpv=1&pg=PA298 Encyclopedia of American Business History]</ref>
The NRA was designed with the objective to restore the economic health of American business, modeled on the progressive ideals of the [[World War I]]-era [[War Industries Board]].<ref>[https://www.google.com/books/edition/The_Great_Depression_and_the_New_Deal_Ke/tfskDwAAQBAJ?hl=en&gbpv=1&pg=PA108 The Great Depression and the New Deal: Key Themes and Documents]</ref> Johnson, who served as the head of the NRA, also served in the WIB during World War I.<ref>[https://www.google.com/books/edition/Encyclopedia_of_American_Business_Histor/5dGig0fYlj8C?hl=en&gbpv=1&pg=PA298 Encyclopedia of American Business History]</ref>
It had four objectives: to spread work evenly among people; to distribute wages, thereby increasing purchasing power; To stop unfair trade practices and limit cutthroat competition; and to eliminate child labor. The NRA was in operation about two years. The business community was initially highly supportive, but by 1934 became increasingly frustrated with the red tape involved. The NRA was shut down in 1935, and no efforts were made to revive it. Economic historians generally agree that it was a poor solution to the economic crises.
It had four objectives: to spread work evenly among people; to distribute wages, thereby increasing purchasing power; To stop unfair trade practices and limit cutthroat competition; and to eliminate child labor. The NRA was in operation about two years. The business community was initially highly supportive, but by 1934 became increasingly frustrated with the red tape involved. The NRA was shut down in 1935, and no efforts were made to revive it. Economic historians generally agree that it was a poor solution to the economic crises.