NIRA

Who doesn't want fair competition?

Purpose:

Suspend anti-trusts laws; set codes of fair competition. Buisness, labor and government cooperated to set prices, hours and wages.

Interesting Facts:

  • It also established a national public works program known as the Public Works Administration.
  • The Act had two main sections or, as they called them "titles". Title I was devoted to industrial recovery, and authorized the promulgation of industrial codes of fair competition, guaranteed trade union rights, permitted the regulation of working standards, and regulated the price of certain refined petroleum products and their transportation. Title II established the Public Works Administration, outlined the projects and funding opportunities it could engage in, and funded the Act.
  • The National Industrial Recovery Act is widely considered a policy failure, both in the 1930s and by historians today. It is believed that the act promoted harmful monopolies, which inevitably led to the failure of the NRA.