17 Sept 1931 Jahr - National Industrial Recovery Act

Beschreibung:

NRA: Federal agency established in June 1933 to promote industrial recovery during the Great Depression. It encouraged industrialists to voluntarily adopt codes that defined fair wages, set prices, and minimized competition.


The New Deal attacked declining manufacturing production with the National Industrial Recovery Act. A new government agency, the National Recovery Administration (NRA), set up separate self-governing private associations in six hundred industries. Each of these groups — ranging from large corporations producing coal, cotton textiles, and steel to small businesses making pet food and costume jewelry — regulated wages, prices, and production quotas. Participation by businesses was voluntary, but the hope was that industrial cooperation would raise wages and stabilize prices, leading to economic recovery. The AAA and the NRA sought to rescue the nation’s productive industries and stabilize the economy. The measures had positive effects in some regions, but most historians agree that they did little to end the depression.

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