Deconstructing the monolith : the microeconomics of the National Industrial Recovery Act / Jason E. Taylor.

Format:

Book

Author/Creator:

Taylor, Jason E., Author.

Series:

Markets and governments in economic history.

Chicago scholarship online.

Markets and Governments in Economic History

Language:

English

Subjects (All):

United States. National Industrial Recovery Act of 1933.

United States.

Industrial policy--United States.

Industrial policy.

New Deal, 1933-1939.

United States--Economic conditions--1918-1945.

United States--Economic policy.

Physical Description:

1 online resource (215 pages).

Place of Publication:

Chicago : University of Chicago Press, [2019]

Language Note:

In English.

Summary:

The National Industrial Recovery Act (NIRA) was enacted by Congress in June of 1933 to assist the nation's recovery during the Great Depression. Its passage ushered in a unique experiment in US economic history: under the NIRA, the federal government explicitly supported, and in some cases enforced, alliances within industries. Antitrust laws were suspended, and companies were required to agree upon industry-level "codes of fair competition" that regulated wages and hours and could implement anti-competitive provisions such as those fixing prices, establishing production "as, and imposing restrictions on new productive capacity. The NIRA is generally viewed as a monolithic program, its dramatic and sweeping effects best measurable through a macroeconomic lens. In this pioneering book, however, Jason E. Taylor examines the act instead using microeconomic tools, probing the uneven implementation of the act's codes and the radical heterogeneity of its impact across industries and time. Deconstructing the Monolith employs a mixture of archival and empirical research to enrich our understanding of how the program affected the behavior and well-being of workers and firms during the two years NIRA existed as well as in the period immediately following its demise.

Contents:

Frontmatter

Contents

Preface

1. Introduction

2. The Underpinnings, Precursors, and Development of the NIRA

3. The NIRA Code Negotiation Process

4. The President's Reemployment Agreement of August 1933

5. Codes of Fair Competition: Industrial Planning and Collusion under the NIRA

6. The NIRA Compliance Mechanism in Theory and Practice

7. The Economics of Compliance and Enforcement and the NRA Compliance Crisis

8. The Schechter Decision and the Lingering Effects of the NIRA

9. Conclusion

Acknowledgments

Notes

References

Index

Notes:

Also issued in print: 2019.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 06. Apr 2020)

ISBN:

9780226603445

022660344X

OCLC:

1078565738