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The National Recovery Administration (NRA) was a prime agency established by U.S. president Franklin D. Roosevelt (FDR) in 1933. The goal of the administration was to eliminate "cut throat competition" by bringing industry, labor, and government together to create codes of "fair practices" and set prices.
Front page of the National Industrial Recovery Act, as signed by President Franklin D. Roosevelt on June 16, 1933. The National Industrial Recovery Act of 1933 (NIRA) was a US labor law and consumer law passed by the 73rd US Congress to authorize the president to regulate industry for fair wages and prices that would stimulate economic recovery.
The First New Deal (1933–1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act.The Federal Emergency Relief Administration (FERA) provided US$500 million (equivalent to $11.8 billion in 2023) for relief operations by states and cities, and the short-lived CWA gave locals money to operate make-work projects from 1933 to 1934. [2]
The Defining Moment: The Great Depression and the American Economy in the Twentieth Century (1998). Advanced economic history. Bremer, William W. "Along the American Way: The New Deal's Work Relief Programs for the Unemployed." Journal of American History 62 (December 1975): 636–652 online; Cannadine, David (2007). Mellon: An American Life.
A "Project funded by The American Recovery and Reinvestment Act" project sign. An economic recovery is the phase of the business cycle following a recession.The overall business outlook for an industry looks optimistic during the economic recovery phase.
The year 2008, as of September 17, had seen 81 public corporations file for bankruptcy in the United States, already higher than the 78 for all of 2007. The largest corporate bankruptcy in U.S. history also made 2008 a record year in terms of assets, with Lehman's size—$691 billion (~$960 billion in 2023) in assets—alone surpassing all past ...
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The United States entered a recession in 1990, which lasted 8 months through March 1991. [1] Although the recession was mild relative to other post-war recessions, [2] it was characterized by a sluggish employment recovery, most commonly referred to as a jobless recovery.