The Industry RecoversIn the meantime the country as a whole was continuing to recover from the depths of the depression, and the auto industry was recovering very much more rapidly than the country as a whole. Production for the first half of 1934 was 1,802,000 cars against 1,081,000 in the first half of 1933 an increase of [...]  |
Labor Unions and StrikesIt was true that the price-fixing sections of the NRA did not do the auto industry any harm, even if they did not do it any good. But in passing the NRA, Congress, having done a good deal for the employer, felt itself obliged to do something for the employees as well. So the NRA [...] |
Selective RecoveryMarch 4, 1933, was the turning-point in the depression and therefore in American economic life. Mr. Hoover’s policy of letting the depression run its course still had much to recommend it from the standpoint of orthodox economics. Unfortunately, the orthodox economist had not taken into consideration the possibility of a banking collapse. With the arrival [...] |
