National Industrial Recovery Act
At a glance:
- Series: Great Events from History: North American Series
- Categories: Government and Politics, Economics
- Subcategories: Business, Laws, Acts, Legislation, Industry, Manufacturing, Factories, Depressions, Recessions
- Curriculum: American History 1901-1950
- Geographical Location: Washington, D.C.
- Date: June 16, 1933
Article abstract: The act encourages firms in industrial sectors to develop codes of fair competition to “do their part” for economic recovery.
Summary of Event
Between 1929 and 1933, the United States economy descended into its worst economic depression in history. By 1932, one-fourth of the nation’s workers were unemployed. Drastic decline in farm prices reduced farm incomes and led to widespread mortgage foreclosures. Banks and other businesses failed by the thousands.
In response, the voters overwhelmingly defeated the efforts of...
[The entire page is 1570 words long]
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